The Democratic People’s Congress (DPC) has asked the Central Bank of Nigeria (CBN)Governor, Dr. Godwin Emefiele and Minister of Finance, Mrs. Kemi Adeosun to desist from further trial and error monetary and fiscal policies that triggered the economic recession now that the naira is beginning to appreciate against the dollar.
The party also demands a stop to the monetary and fiscal policies summersault which it claimed led to capital flight from the economy.
In a statement, DPC national chairman, Rev. Olusegun Peters said local and foreign investors need assurance of a stable economic, monetary and fiscal policies to guide their operations.
The DPC also demanded the release of more dollars into the economy which it said will reduce the pressure on the naira and facilitate economic recovery.
“It is obvious that the actions and reactions of the nation’s financial regulators boost or shatter investors’ confidence in the economy.
“The inconsistency in policies formulation and implementation was the major cause of the nation’s economic woes. There should be adequate consultation with stakeholders before crucial monetary and fiscal policies are formulated to avoid a recurrence of the ill-conceived and ill-advised policies of the Central Bank of Nigeria that led to the economic hardship facing millions of Nigerians today,”the party said.