Factional Leaders of Labour Party Disagree Over Suspension of CBN Governor

The Labour Party (LP) is currently divided as factional leaders express contrasting views regarding the suspension of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. While one faction supports the suspension, accusing Emefiele of causing hardship during the naira swap crisis, another faction argues that the removal is unjust and punitive. The disagreement highlights the ongoing rift within the party and raises questions about the future direction of the LP.

The Lamidi Apapa-led faction of the LP, represented by its Publicity Secretary, Abayomi Arabambi, stands in support of Emefiele’s suspension. Arabambi stated during a press conference in Abeokuta, Ogun State, that the embattled CBN Governor had impoverished Nigerians with his actions during the naira swap crisis. The faction believes that a lawful inquiry into Emefiele’s tenure is necessary to address the alleged corruption and maladministration that occurred under his leadership.

In contrast, the Julius Abure-led faction, as expressed by their National Publicity Secretary, Obiora Ifoh, opposes Emefiele’s suspension, deeming it unfavorable and punitive. The faction argues that the removal of the CBN Governor does not serve the best interests of the nation. Arabambi, in response, accused the opposing faction of being vindictive and failing to prioritize the welfare of the Nigerian people.

Arabambi went on to emphasize that the Labour Party is committed to the well-being of Nigerians. He highlighted the negative impact of Emefiele’s policies, citing the devaluation of the naira and the implementation of forex arbitrage and round-tripping. Arabambi stated that these actions led to economic turmoil and financial hardships for ordinary citizens.

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Furthermore, Arabambi criticized Emefiele’s involvement in politics as a sitting Central Bank Governor. The LP chieftain argued that the CBN Governor should be held accountable for his actions, asserting that his tenure perpetuated economic terror and financial servitude.

The faction aligned with Arabambi’s viewpoint urged relevant security agencies, including the Department of State Services (DSS), to thoroughly investigate Emefiele’s actions without hindrance. They emphasized the need for transparency in the investigation process, as Nigerians eagerly await the findings. Arabambi also called for an investigation into the link between Julius Abure and the Indigenous People of Biafra (IPOB) and other alleged terrorist groups.

The disagreement among factional leaders of the Labour Party regarding the suspension of CBN Governor Godwin Emefiele highlights the internal divisions within the party. While one faction supports the suspension, citing allegations of mismanagement and impoverishment of Nigerians, another faction opposes it, considering it unjust and punitive. The divergent opinions underscore the challenges faced by the Labour Party in unifying its stance and moving forward cohesively. The investigation into Emefiele’s tenure and the response from security agencies will play a crucial role in determining the outcome of this political controversy.

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