SIR: How are the mighty fallen is a popular global maxim. This is the story of Godwin Emefiele, ex-governor of the Central Bank of Nigeria (CBN). This calm, humble looking man was typically blinded by the lucre of power, money and influence. The aphorism that power corrupts and absolute power corrupts absolutely was manifest in ways and manner he superintended over the CBN. Every day, we are reminded of how transient money and power is. However, most deluded office holders in Nigeria do not seem to appreciate the limit of their official elasticity. They keep on acting as if tomorrow never exists and arrogantly act and behave like gods until such a time when there is no longer room for penitence. The position of the CBN governor is highly exalted and influential. Therefore, governments at the federal and state levels, powerful officials and individuals have always lured and tampered with the sanctity of the bank to align with some dubious, personal or group economic policy…
, ex-governor of the Central Bank of Nigeria . This calm, humble looking man was typically blinded by the lucre of power, money and influence. The aphorism that power corrupts and absolute power corrupts absolutely was manifest in ways and manner he superintended over the CBN.
The position of the CBN governor is highly exalted and influential. Therefore, governments at the federal and state levels, powerful officials and individuals have always lured and tampered with the sanctity of the bank to align with some dubious, personal or group economic policy decisions. The hasty redesign of the naira notes which brought untold hardship to Nigerians was one policy which broke the camel’s back. He hid behind “President Buhari approved it” to undertake all sorts of programmes which mostly benefited his friends, family and cronies. Emefiele saw it coming but the sweet scent of power and the allure of authority beclouded his sense of judgement.
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