- Taking Instructions From IMF, World Bank Wrong, He Says
- Offers To Help FG Recover $200b From Subsidy Thieves
- Says INEC Should Have Exclusive Rights To Determine Election Winners, Not Judiciary
Human Rights Lawyer and a Senior Advocate of Nigeria (SAN), Femi Falana, has reserved harsh criticism for President Bola Ahmed Tinubu’s led Federal Government’s handling of Nigeria’s economy saying rash of decisions taken by the Federal Government are hurting the country.
This is even as he disclosed Nigeria’s knack for taking instructions from the International Monetary Fund and the World Bank is further hurting the country’s economy.
The Legal luminary made these known while appearing as a special guest on the state of the nation’s economy under Tinubu on Channels Television’s Politics Tonight programme on Friday, October 27, 2023.
The Matrix recalls that the Federal Government took some decisions including the removal of fuel subsidy and the floating of the naira
When he was asked what he thinks should be done to arrest any further downward slide of the naira, Falana said the situation will remain the same if the Federal Government continues to adhere to International Monetary Fund (IMF) and World Bank directives on how to run the economy.
“I’m saying that there is no way the value of the naira will pick up if we continue to take instructions from the IMF and World Bank to run our economy, the activist noted.
He also condemned the government for floating the naira when it had no control over forex exchange.
Speaking further, he disclosed that if given the chance he could assist President Bola Tinubu’s government in recovering nothing less than $200 billion from fuel subsidy thieves.
“Today, it’s only those two institutions, the Bretton Wood institutions that are commending the government for removing fuel subsidy without investigating the fraud that characterised the importation of fuel.
“Those are the two institutions commending the government for floating the naira. You don’t float the currency, apart from a banana republic, how can you float your currency when you didn’t control the dollar?
“So, these are issues that the government would have to address and I’m saying publicly, if the government is prepared I know a team of lawyers that can the government to recover not less than $200bn between three and six months.
“So, the government would have to really go back to the drawing table. How can we organise this country in the interest of our people and also in the interest of the government because the government needs political stability,” the SAN added.
Meanwhile, Falana while reacting to yesterday’s Supreme Court judgement that affirmed President Tinubu’s victory, said that though the presidential election case has ended, he maintained that it is not ideal for the judiciary to decide winners of elections.
He insisted that determining winners of elections is an exclusive reserve of the Independent National Electoral Commission if things are done the way they should be done.
“No doubt the judgment of the Supreme Court ascended the electoral contestation as far as the presidential election conducted in February this year is concerned, but for sure it is not a judicial endorsement of the conduct of the election by INEC.
“And what I mean is that even with the judgment, it is very clear that Nigeria has a long way to go in terms of ensuring that credible elections are conducted, elections that will be devoid of acrimony, elections that all of us will be proud of, but we are still a long way from there even with the judgment.
“Yes for now the presidential election is concluded, it should have been concluded in February, but it has just been concluded by the Supreme Court and it should not be so. The judiciary should not determine the winners of elections.
“Judges are not suited to determine the winners of election; that is a job that is the exclusive reserve of INEC if things are done properly and that is why we must put an end to the shame that has become our law in terms of conducting elections,” Falana said.
The Senior Advocate said that Nigeria must realise at all times that it has the largest concentration of black people on earth and therefore has a greater responsibility to put its house in order so that black people will not be insulted all over the world.
He said it doesn’t take much to conduct a good election if the political class are honest and dedicated in the conduct of transparent elections.
