The National Chairman of the African Democratic Congress (ADC), Ralph Nwosu, has issued a strong appeal to President Bola Tinubu, urging him to stop politicizing Nigeria’s financial institutions, particularly the Central Bank of Nigeria (CBN).
Speaking in Abuja on Monday during the presentation of the Certificate of Return to the party’s Anambra State governorship candidate, Mr John Chuma Nwosu, the ADC leader warned that continuous political interference in the operations of the apex bank is damaging both the economy and Nigeria’s democratic foundations.
He said: “Nigeria’s poverty level is at 75%, inflation is out of control, and insecurity is widespread.
“But the worst is that the federal government is playing politics with the Central Bank and our monetary policies.”
He accused the federal government of manipulating economic data for political advantage, warning that such practices have far-reaching consequences.
His words: “You cannot play politics with financial institutions — the country will go down more. They manipulate figures for the purpose of local politics.
“You can play politics everywhere, but leave the Central Bank alone. Let the figures show for themselves.”
According to Nwosu, continued interference undermines investor confidence and destroys the foundations of governance and democratic dividends.
“Manipulating our monetary policies for politics is completely destroying the dividend of our democracy,” he said.
He also expressed concern over the federal government’s handling of domestic debt obligations.
“All the local contractors in Nigeria have not been paid. Our local debts have amounted to more than a hundred trillion naira, and they are talking of clearing foreign debts,” Nwosu said.
He added that this level of mismanagement is far removed from the ideals President Tinubu once stood for.
“This is not the democracy President Tinubu stood for in 1993 before he was voted into power,” he emphasized.
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