Composite image of former Central Bank of Nigeria Governor Godwin Emefiele (left) and Senator Godswill Akpabio.

The Ohanaeze Youths have criticized the President of the Senate, Godswill Akpabio, for his comments regarding the immediate-past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The youth group defended Emefiele, arguing that he played a key role in stabilizing Nigeria’s economy while alleging that the National Assembly under Akpabio’s leadership has contributed to its destabilization through legislative recklessness.

Senate President Akpabio accused Emefiele of leaving a “foamy economy” and a significant hole in the national treasury, expressing his stance during a speech at Ikot Ekpene Stadium at a reception hosted by his kinsmen from Akwa Ibom North-West Senatorial District of Akwa Ibom State.

However, Ohanaeze Youths, in a statement signed by Mazi Uzor Azubuike, argued that Akpabio’s criticism of Emefiele was unfounded and that the Senate President should apologize to Nigerians for the alleged damage to the economy caused by budget padding and other corrupt practices. The youth group highlighted the accusations made by Senator Abdul Ningi, which revealed budget padding and discrepancies within the National Assembly.

The Ohanaeze Youths cited a previous article by policy analyst Arize Nwobu, who praised Emefiele’s leadership at the CBN. According to Nwobu, Emefiele’s policies were designed to stabilize the financial system, which is crucial for a healthy economy. Nwobu noted that Emefiele faced considerable challenges, including economic sabotage from political actors with vested interests, some banks covertly breaching rules, and other saboteurs within the system.

The Ohanaeze Youths reiterated Nwobu’s observation that the Nigerian economy is “highly sabotaged virtually on all fronts,” which makes it resistant to guidance and discipline. They suggested that Akpabio and other critics failed to recognize these factors, focusing instead on blaming Emefiele for economic issues.

The youth group referenced the recent scandal exposed by Senator Ningi, where an additional N3 trillion was inserted into the budget without clear allocations, raising concerns about budget manipulation and corruption within the National Assembly under Akpabio’s watch.

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