Senate President Godswill Akpabio alleges that the current administration, under President Bola Tinubu, inherited a troubled Nigerian economy, which he attributes to policies enacted by former Central Bank Governor Godwin Emefiele. Akpabio made these remarks during a thanksgiving service held by Senator Barinada Mpigi in Koroma, Tai Local Government Area of Rivers State on Sunday.

Describing the economic situation as dire, Akpabio referred to former President Obama’s assertion that understanding Washington requires being in Washington. He suggested that the former central bank governor’s actions were so egregious that authorities were uncertain about the appropriate charges, humorously mentioning possibilities such as “putting foam on top of the bill” or “printing notes without income.”

Acknowledging the prevailing hunger, Akpabio assured that the government is actively addressing insecurity and striving to ensure Nigerians have enough to eat. He urged patience, emphasizing that decades of decay cannot be rectified in a short span, stating, “That rot that has happened in Nigeria for almost 60 years cannot be solved in six months.”

Following Emefiele’s removal as the CBN governor by President Bola Tinubu in June 2023, the Federal Government has pursued legal action against him for alleged financial crimes. On January 18, the government expanded the charges against Emefiele from six to 20 counts, including alleged criminal breach of trust, forgery, conspiracy to commit forgery, procurement fraud, and conspiracy to commit a felony.