The former President of the Council of Chartered Institute of Bankers of Nigeria (CIBN), prof. Segun Ajibola, has advised the incoming administration to tackle financial crisis headlong.
Speaking at the 60th birthday of Dr. Samson Bilesanmi one of the leaders of Asiwaju Bola Tinubu Support Group, Prof Ajibola said such move will help to salvage the precarious economic situation occasioned by poor fiscal policies of the outgoing administration.
Ajibola cited the dysfunctional state of the five traditional functions of the Central Bank of Nigeria (CBN) which he declared has brought Nigeria economy to its lowest ebb.
He proffered some workable solutions to the problems bedeviling Nigerian economy, these includes; a revamped agriculture and manufacturing sector.
Development of various segments of the economy to avoid centralization and a sufficiently tamed appetite for imported goods.
On fiscal policy, Ajibola maintained that the federal government burrowing attitude negates the earmarked ratio stressing that, “close to 27 trillion naira has been burrowed from the CBN and is against the regulatory act.
While calling for fiscal discipline on the part of federal government, he also noted that the banks are not in a good state, “CBN could no longer give bail out funds being bankers bank.
“Our monolithic economy is poorly managed. our debt now hovers between 46 to 80TN.” Ajibola said.
The celebrant Dr. Bilesanmi leader of the G36 Reward Supporting Group, while speaking earlier reiterated his previous stand, calling on the President- elect, Asiwaju Bola Tinubu to disband the almagamated support group whose leaders allegedly bolted with funds released for all members.
He charged Tinubu to compensate members randomly with placements in several boards appointment that are available.
“We can be compensated via the boards appointment, at least two per support groups because they have suffered degrading situations in the process.
“Asiwaju should also not give room for cabal in government as this is the first time in the history of Nigeria when we are having a true and real democratically elected President like Nelson Mandela of South Africa.
“The case of some serving officials of government looking for ways to run away claiming to be on study leave should be discountenance.
“People like Emefiele should not be allowed to go, he should give account of stewardship.” Bilesanmi said.