Lasun Alagbe
Renowned economist, Ayo Teriba, has said that the Central Bank of Nigeria is being run with arrogance and ignorance.
This is the assessment of the apex bank with regards to the way it is handling the naira redesigning, which is causing Nigerians agony and disruptions.
According to him, the Godwin Emefiele-led authorities of the bank are not heeding good counsel, saying it was mixing its primary role of regulating monetary matters with the socio-political.
Speaking on TVC’s ‘My View’ on Monday, Teriba said that the CBN was not getting its priorities right.
He noted it was unfair to make millions of Nigeria go through hardship because of the policy it was supposed to execute quietly.
Teriba is of the opinion that what the Nigeria economy needed was not just naira redesigning but an upward redenomination that could match retail value, saying it was the same amount that would cost the US to print $100 that would cost Nigeria to print a N200 note, whereas the retail value of the latter was far lower.
“You cn’t run the Central Bank with arrogance. Now they are adding arrogance to ignorance,” Teriba said.
