NAIRA REDESIGN: You Can’t Use Your Position To Fight Crime, Allow EFCC, Financial Analyst, Mascot Kalu Tells CBN Governor
…Suggests possible solution
A renowned Financial Analyst, Hon. Mascot Uzor Kalu says Nigeria does not have economic problem, but monetary policy problem.
Contrary to the general notion as it pertains to the major challenge that that crippled Nigeria, Chief Mascot Uzor Kalu, the Governorship Candidate of Action People’s Party, APP has alleged that the canker warm eating up the wealth and progress of the Nigerian nation is hitched on monetary policy and not economic.
The prospective Governor of the State made this pledge during a live interview with Rapid FM, Umuahia, Tuesday, as he reprimanded the Governor of Central Bank of Nigeria, CBN, Prof. Godwin Emefiele for deviating from his role, thereby interfering with the core role of the EFCC and ICPC.
“I have said this before that Nigeria does not have economic problem rather Nigeria has monetary policy problem. I got calls yesterday from some persons who said “Mascot, you predicted these things seven years ago” and I said to them, “the king is not valued in his land”. I am an Economist and also a Financial Analyst. It is a two rare combination you cannot see anywhere across the world; to have somebody who has Economic knowledge and also a Financial Analyst.
“So, when you toll certain policies, I take it in as an Economist and analyse it as an Analyst and I can tell you what the result will be.
“Seven years ago, I predicted that we would have this kind of crisis we are having this time in monetary policy but no one listened to me and we are here today.
He argued that using the monetary policy as a tool to combat crime, would tantamount to downright vandalisation of the said policy.
The Financial Analyst who also doubles as an Economist described as unheard-of and inappropriate, the idea of using monetary policy to curtail crimes, insisting that such roles such be performed by the appropriate bodies, hence the EFCC and ICPC.
“As a CBN Governor, you cannot combine your job with the job of EFCC person, because when you do that, by using monetary policy to fight crime, you are destroying your monetary policy.
“The simple is this; If the policy is that, if you want to withdraw money above #500,00 as an individual, we’ll give you an EFCC and ICPC (Independent Corrupt Practices and Other Related Offences Commission) form to sign and say what you want to use it for. And for Government persons, if you want to take more than #1.5m, we’ll also give you an EFCC/ICPC form to sign. That should be the simple policy. He does not have any reason to combine his work with that of the EFCC. He doesn’t. ”
He, therefore, advised the Governor to make funds available, lamenting that the present policy had, in no doubts, begun to erode the people’s confidence as reposed in them.
“He should make funds available,
because this problem is eroding on people’s confidence for Naira and your job as a Central Bank Governor is to make sure you protect your monetary policy. You cannot use your position to fight crime, that’s not your job!”, He advised.