Emefiele rubbishes Osinbajo’s stance on Nigeria’s economic policies, says he’s not answerable to VP

The Central Bank of Nigeria Governor, Godwin Emefiele, has faulted the position of Vice President Yemi Osinbajo on the synergy between the fiscal and monetary authorities.

The CBN governor said the two authorities are only answerable to President Muhammadu Buhari, who has not faulted the handling of the policies.

Emefiele’s reply is coming a month after the VP faulted his forex policy during the ‘Mid-Term Ministerial Performance Review Retreat’ of the Economic Sustainability Plan.

Osinbajo had at the meeting questioned the legitimacy of CBN interventions, adding that the apex bank should allow fiscal authorities to handle interventions meant for Micro, Small and Medium Enterprise.

The VP had said, “But I think that one of the most important things is that there must be a synergy between the fiscal and monetary authorities which is absolutely crucial.

“We must be able to deal with the synergy, we must handle that synergy between the monetary authority the CBN and the fiscal side. Sometimes it appears that there is competition between them, especially on the fiscal side.”

But in an interview on Arise TV which was monitored by NewsClickng , Emefiele said he is not answerable to the VP on economic issues.

The CBN boss said it is within the discretion of the President to judge if there is synergy between the two authorities.

Emefiele said, “I’m sure if you ask the Finance Minister that we are in the same contact with, she will tell you that there are no issues about the relationship between the monetary and the fiscal authority.