Forex Crisis: Olawepo Hashim Urges FG To Exclude Commerical Bankers From CBN
A former presidential candidate, Mr Gbenga Olawepo Hashim has listed criminal forces controlling the foreign exchange market in Nigeria.
He explained that, until the federal government takes control of the market, the naira will continue its free fall.
He said that Nigeria’s foreign exchange market is controlled by criminal gangs, who will continue to take advantage of every genuine policy.
Mr Hashim, who is an Oil and Gas executive.
“There are criminal gangs controlling Nigeria’s foreign exchange market.
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“Those gangs include criminal minded bank executives, money launderers, illegal miners of minerals, those involved in oil bunkering, corrupt politicians with large volumes of questionable funds in their custody, unpatriotic business men, agents of commercial banks at the Central Bank of Nigeria, corrupt public officials, kidnappers and bandits, terrorist organization,” he said.
Mr Hashim also advised federal government to dump the free float of naira in exchange to other currencies.
According to him, it would be delusional to manage Nigeria’s exchange regime with expectations that the market will correct itself.
“It is time for real central bankers to assume control of the central bank of Nigeria, rather than commercial bankers and even elements at the fringes of commercial banking who have hijacked the management of our monetary policies in the past 2 decades”. He said.
