From Abuja
The Peoples Democratic Party has taken a critical view of the Nigerian economy and how to reposition it, urgently revamp the productive sector and provide jobs for the youth, with an advice on the Central Bank of Nigeria (CBN) to come up with programmes and polices to achieve the yearnings and aspirations of Nigerians.
The PDP National Publicity Secretary, Mr Kola Ologbondiyan, who gave the advice a news conference in Abuja, said the expectation of Nigerians had been that, CBN would have designed programmes and policies that would create employment and gainful economic participation for millions of Nigerian youths.
The PDP image maker further urged the apex bank to jettison freezing accounts of some Nigerians on alleged connection with #EndSARS protest and instead, engage in galvanizing efforts in finding lasting solutions to the myriads of economic challenges facing the nation.
Ologbondiyan,who described CBN freezing accounts of some Nigerians on alleged connection with #EndSARS as “partisan action”, said the development remained a threat to the stability of the banking sector.
“Nigerians, in their objection to the action of the CBN, are already poising to close their accounts and boycott financial transactions with some of commercial banks over the matter.
“The PDP stresses that our nation cannot afford another round of restiveness, particularly relating to our banking and finance sector, as such will not augur well with our struggling national economy at this time,”he said.
Ologbondiyan also advised the CBN to be interested in offering urgent strategies that would buoy up the value of our naira, with a view to improving Nigeria’s Gross Domestic Produce (GDP), curbing rising inflation, checking the depletion of the country’s foreign reserves and ending borrowing.
“In fact, under this CBN, with the projected N5.2 trillion borrowing already proposed in the 2021 budget, our nation’s debt will hit N36.2 trillion.“Needless to say that this will plunge our nation into a bottomless pit of economic depression,”PDP added.
Ologbondiyan, however, said that after extensive review of the state of the Nigerian economy in the last five years, the PDP found it necessary to ask the Governor of the CBN, Godwin Emefiele, to step aside in the management of the apex bank affairs.
He said that the PDP was constrained in making the demand to rescue the nation’s economy.
