President Bola Ahmed Tinubu said in Paris on Friday that the country’s financial system has become “rotten” under the suspended Central Bank of Nigeria (CBN) governor Godwin Emefile.
Tinubu, who spoke during his first interaction with Nigerians in France, cited difficulty in the flow of foreign exchange in and out of the country, adding that it enriched some while impoverishing most Nigerians. Gave.
“The financial system was rotten. Some people were looting our money…that is gone now; The man (Emefile) is in the hands of the authorities,’ Tinubu said.
Ripples Nigeria reports that President Tinubu suspended the former CBN chief two weeks ago to pave the way for an investigation into his office and planned reforms in the financial sector.
Emefile was subsequently arrested and detained by the Department of State Services (DSS) while his office’s investigation continues.
The president, speaking further during the expatriate conference, also said that his administration would implement more financial reforms in the coming weeks.
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“Back then, the financial system was rotten. Some people were stealing our money and then you stopped sending money to our poor parents.
“He is gone now. The man (Amephyle) is in the hands of the authorities; something is being done about it; They will solve it themselves.
“We have security challenges in the country. Perhaps in this way they are promoting insecurity; We have to see everything. We will change the financial system; It will work for you”, Tinubu said.
The President further said that he and his Special Adviser on Monetary Policy, Mr. Wale Adun, turned the fortunes of Lagos State between 1999 and 2003, increasing internally generated revenue from N600m annually to N50bn monthly.
“Now, Lagos is on auto pilot. Any intelligent person can navigate it,” he said.
He also promised to work for those who did not vote for him during the February 25 election, in which he was declared the winner.
“Whether you voted for me or not, I am your president. By the grace of God, I have to work on your behalf,” he said, describing Nigeria’s challenges as “enormous” for which he is prepared.
“So, your president is here. I danced for it and I have to continue preparing for it.
“The challenges are huge. But do we have hope? Yes. With persistence, determination, and perseverance, we can achieve anything we want.” He also said that he, like some in the audience, has experienced the hard side of expatriate life, adding, “I know the way and I’ve been through a lot.” Some of you have been out of the country. I’ve lived in America and Britain; I’ve been a night watchman, security guard, and gatekeeper in America. But I The target has been achieved.
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