Former deputy governor of the Central Bank of Nigeria, Kingsley Moghalu, has vehemently criticized the performance of embattled ex-CBN Governor, Godwin Emefiele, labeling him as the worst leader the apex bank has ever seen.
Moghalu took to Twitter to express his concerns about a leaked report by a CBN investigation appointed by President Bola Tinubu, highlighting the absence of signatures and official acknowledgment by the President and his administration.
He pointed out Emefiele’s incompetence, particularly in maintaining the stability of the naira exchange rate and controlling inflation, as well as the “brazen illegal” provision of Ways and Means lending to the government. Moghalu also criticized Emefiele’s unauthorized attempt to run for president, which contravenes the CBN Act of 2007. Moreover, he condemned the mishandling of the naira redesign policy and its detrimental impact on Nigeria’s economy.
Addressing the authenticity of the report and condemning the media trial, Moghalu emphasized the need for confidentiality in handling sensitive reports related to the Central Bank of Nigeria, stressing that such sensationalism can significantly impact the country’s economy and the institution’s credibility.
While advocating for accountability within the CBN, Moghalu called for similar scrutiny of other sensitive entities such as the NNPC, Nigeria’s national oil company, to combat corruption effectively. He underscored the need for a holistic approach to governance and emphasized the importance of addressing corruption at all levels, rather than engaging in politically motivated media trials.
Moghalu concluded by asserting that Nigeria’s political leadership and governance demand a comprehensive transformation, suggesting that the current approach to the Emefiele matter may not be the most effective when closely scrutinized.
