CEM REPORT | The Nigeria Civil Society Situation Room has called for the immediate removal of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to save the current deteriorating status and state of the establishment.
The Situation Room which consists of a coalition of over 70 Civil Society Organisations (CSOs), made the call in Abuja during a state of the nation address.
Situation Room Convener, Ene Obi decried the heavy depletion of the Excess Crude Account (ECA), which ought to serve as a cushion to help stabilise the country’s economy.
She stressed the need for the Federal Government to action steps to address the current economic challenges, alarming unemployment, plummeting exchange rate and financial hardship on the citizens.
“The economy is at its lowest ebb as the purchasing power of Nigerians has dwindled in the face of galloping inflation. Basic domestic commodities, power, energy and transportation are out of reach for the average Nigerian.
“National unemployment rate according to the National Bureau of Statistics stands at 33.3 percent, while unemployment of the youths is 42.5 percent.”