ONE time minister of education, Oby Ezekwesili has raised worries about how the redesign of the naira has become a policy of the Central Bank of Nigeria (CBN) in tracking criminals and solve the problem of criminality in politics.
During a recent interview on Channels TV she said that government could easily go after the criminals without deploying the monetary policy of CBN.
Ms Ezekwesili, who is a former Vice President for the World Bank’s Africa Region said government knows these criminals and that there was no need to deploy the policy.
“But there’s a second thing that we seem to be solving for which has now taken ascendancy over the monetary policy. We are using the Central Bank to solve the problem of criminality in our politics.
“That’s the objective, but is it an objective that the Central Bank should be smacked into? There’s something wrong with that because what has happened is – you have criminals – the government knows the criminals, they are part of them.
“If it wanted to, in a transparent manner, get them, it would get them. But what it has done is that It has basically discomfited the citizens, the poor women in the market, the people just barely eking out a living, and now struggling because of the criminality our politics.”
She noted that the financial infrastructure has been unable to cope with the surge in transactions because the system was not upgraded.
The former minister also described the implementation of the policy as “appalling” adding that “Frankly speaking, I don’t even know whether there are economists left in the Central Bank of Nigeria.”
Ezekwesili said, “by mixing all of it up, you have created this chaos. What is clear is that the politicians have again put their interests above that of the citizens.”