Depreciating naira: Sack Emefiele now, ASUU urges Buhari

The Academic Staff Union of Universities demanded on Saturday that the Governor of the Central Bank of Nigeria, Godwin Emefiele, be fired over the naira’s depreciating value.

The CBN governor, according to the organisation, should be fired for disappointing Nigerians and plunging millions into poverty.

Dr Chris Piwuna, ASUU’s Vice President, said this in response to reports that the naira had depreciated further, trading at N420.33 against the dollar.

He said, “For how long is the government ready to tolerate Godwin Emefiele? For how long are Nigerians going to tolerate him? Can our Naira continue to breathe under him? Is our nation living in isolation of the global economy?

“Our naira is in tatters under his inept leadership. The President must fire him because he has fired our collective desire to progress and plunged millions into poverty and lack. It’s time for him to leave.”

There were reports that Naira, on Thursday, exchanged at 420.33 to the dollar at the Investors and Exporters window, compared to 419.25 traded on Wednesday, representing 0.26 per cent depreciation.

The open indicative rate closed at N417.70 to the dollar on Thursday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N420.33.

The naira sold for as low as 410 to the dollar within the day’s trading.

A total of $75.56m was traded in foreign exchange at the official Investors and Exporters Window on Thursday.

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