Numerous traders in Umuahia, the capital of Abia State, have expressed their delight over the suspension of Mr. Godwin Emefiele, the Governor of the Central Bank. The traders, who shared their views on Saturday evening, believed that Emefiele did not deserve sympathy in his current situation.
Speaking at Isi Gate and Orie Ugba markets in Umuahia, the traders accused the Emefiele-led Central Bank of Nigeria (CBN) of adversely affecting their businesses during the first quarter of 2023 due to the mismanagement of the naira redesign policy. They also alleged that the suspended CBN Governor had been obstinate by disregarding the Supreme Court’s directives concerning the naira issue.
Mr. Joel Onyekachi, a butcher, expressed that he was still recovering from the losses he incurred during the cashless challenges in February and March. In many cases, he had to discard his spoiled beef purchases.
Similarly, Mrs. Kate Amadi, a fruit dealer, considered the news of Emefiele’s suspension and detention as one of the happiest moments of her life. She explained that the Governor and his policies had caused her significant difficulties, hence her joy at the news. She advised Nigerian leaders to be mindful of the potential impact their actions could have on the well-being of the citizens.
Mr. Chibuzor Olileanya, a shoe dealer, regarded the cashless policy as even more detrimental than the ongoing fuel subsidy removal controversy. He emphasized that the two situations were incomparable, with the subsidy removal being relatively better or manageable. Despite the hardships caused by the removal, at least people could still purchase fuel if they had the necessary funds. However, during the cashless period, he noted that there was a complete lack of money available for purchasing anything, exacerbated by poor network connectivity that resulted in failed online transactions and trapped funds.