Economic Experts Criticize Emefiele, Praise Cardoso and Wale Edun for Stabilizing Nigeria’s Economy

Nigerians and economic analysts are increasingly critical of Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), citing his tenure as one that severely destabilized the nation’s economy.

Observers argue that excessive money printing, poor fund management, and policy missteps during his leadership left millions of Nigerians bearing the brunt of economic hardship.

Commentators note that the current efforts of Dr. Cardoso and Minister of Finance Wale Edun are already yielding signs of recovery and stability, making it difficult for many to forgive Emefiele’s past economic mismanagement.

“When you look closely at our economy today and the work Cardoso and Wale Edun are doing, it becomes even harder to forgive Emefiele. He single-handedly dragged our economy to its worst point — printing excess money, mismanaging funds, and leaving Nigerians to bear the pain,” an economic analyst said.

Emefiele’s tenure was marked by persistent inflation, currency depreciation, and controversies over central bank interventions, which critics say eroded public trust in financial governance.

The current economic team is being praised for restoring discipline, curbing excesses, and implementing policies aimed at stabilizing the naira, controlling inflation, and boosting investor confidence.

While debates continue over accountability for past economic failures, many Nigerians are expressing optimism that ongoing reforms under Cardoso and Edun will gradually reverse the damage and foster sustainable growth.