The suspension of the Governor of the Central Bank, Mr. Godwin Emefiele, has brought joy to many traders in Umuahia, the capital of Abia State. The traders expressed their satisfaction with the development, stating that Emefiele did not deserve sympathy in his current situation.
Speaking at Isi Gate and Orie Ugba markets in Umuahia, the traders accused the Emefiele-led CBN of causing harm to their businesses in the first quarter of 2023 through the mismanagement of the naira redesign policy. They also alleged that the suspended CBN Governor had shown stubbornness by disregarding the directives of the Supreme Court regarding the naira issue.
One of the traders, Mr. Joel Onyekachi, who works as a butcher, revealed that he was still struggling to recover from the losses he incurred due to the challenges of the cashless policy in February and March. He often had to discard perished beef purchases as a result.
Mrs. Kate Amadi, a fruit dealer, expressed her happiness about the suspension and detention of Emefiele, as she claimed that his policies had caused her significant difficulties. She urged Nigerian leaders to consider the impact of their actions on the well-being of the citizens.
Mr. Chibuzor Olileanya, a shoe dealer, stated that the cashless policy was even more detrimental than the ongoing fuel subsidy removal issue. He explained that while the removal of fuel subsidy was harsh, at least people had the means to buy fuel. However, during the cashless period, there was a lack of available cash to make any purchases, compounded by the poor network system that resulted in failed online transactions.
Overall, the traders expressed their satisfaction with the suspension of the CBN Governor, highlighting the negative impact they believed his policies had on their businesses.