He deserved what happened to him – Traders rejoice after Emefiele’s suspension

The suspension of the Governor of the Central Bank, Mr Godwin Emefiele, has garnered mixed reactions among traders in Umuahia, Abia State capital.

Some traders, who expressed their views at Isi Gate and Orie Ugba markets, voiced their happiness regarding the suspension. They held the belief that Emefiele’s present predicament was a consequence of his actions and did not deserve their sympathy……..Continue Reading

The traders attributed their dissatisfaction to the poor management of the naira redesign policy by the Emefiele-led CBN, which they claimed had negatively impacted their businesses in the first quarter of 2023. Additionally, they accused the suspended CBN Governor of being unyielding by disregarding the directives of the Supreme Court concerning the naira issue.

Mr Joel Onyekachi, a butcher, shared his ongoing struggle to recover from losses incurred during the cashless challenges of February and March. These challenges often resulted in him having to discard perished beef purchases.

Mrs Kate Amadi, a fruit dealer, expressed immense joy upon hearing the news of Emefiele’s suspension and detention. She felt that the policies implemented by him had caused significant difficulties for her business. She emphasized the importance for Nigerian leaders to consider the potential impact of their actions on the well-being of the citizenry.

Mr Chibuzor Olileanya, a shoe dealer, believed that the cashless policy was even more burdensome than the current fuel subsidy removal issue. He stated that although the subsidy removal had its challenges, at least people could physically obtain fuel by paying the increased prices. However, during the cashless period, the lack of access to physical cash posed significant obstacles to making purchases.

Olileanya also highlighted the frustration caused by a poor network system during the cashless period, leading to failed online transactions and trapped money.

The traders’ opinions reflect their personal experiences and frustrations with the policies and management under Emefiele’s tenure at the Central Bank.