– Ifeanyi Ubah laments current foreign exchange crisis facing the nation
– Faults fiscal policy being employed by the CBN and the Ministry of Fiance
The Managing Director of Capital Oil and Gas, Ifeanyi Ubah has said the current economic crisis bedeviling the country should have prompted government officials saddled with fiscal responsibilities in the country to have resigned their appointments.
Ifeanyi Ubah has accused the Ministry of Finance and the CBN of applying only academic fiscal policies rather than practical ones in the face of economic challenges bedeviling the country.
The businessman, speaking on a programme on Raypower FM, on Thursday, February 25, blamed the Minister of Finance, Kemi Adeosun and the governor of the Central Bank of Nigeria, Godwin Emefiele for the current foreign exchange crisis facing the nation.
Ubah faulted fiscal policy being employed by the Ministry Finance and the apex bank in dealing with the fiscal challenges experienced in Nigeria.
He accused both agencies of applying only academic fiscal policies rather than practical ones, noting that the government officials saddled with fiscal responsibilities should have resigned by now in the face of the current crisis.
This is not the first time Ifeanyi Ubah would be speaking on the economic challenges facing the country, few days ago he restated his earlier stance to improve the value of the Naira, vowing to bring it to N200 to $1 if the federal government would give him the opportunity to become its chief consultant on financial stability.
The business tycoon on Tuesday, February 23, said as a businessman and an economist, he is worried by the continuous fall of Naira and promised to stabilize it within a month, adding that failure to delivery on this promise, his asset worth over N500 billion should be forfeit.