Expel Otedola from economic management team, experts tell Jonathan

The recent Central Bank of Nigeria (CBN)'s directive to banks to stop lending to recalcitrant debtors has continued to generate reactions as some analysts have called on President Goodluck Jonathan to, as a matter of urgency, withdraw the chairman of Zenon Petroleum, Mr Femi Otedola, from the Nigerian Economic Management Team (NEMT) over the huge debt his company owed banks.Speaking with the Nigerian Tribune on telephone, an Abuja-based financial analyst, Mr Nnodu Okeke, said Otedola had no business being a member of the economic management team in view of the N192.4 billion debt his company owed banks.According to the renowned legal luminary, Zenon Petroleum boss should be told to step down honourably because his actions so far had portrayed that he is working against the economy he is expected to make meaningful contributions to.He faulted the constitution of the team, stressing that there was no way the businessmen members of the team would offer genuine advice that would conflict with their personal interests.'The NEMT is supposed to be the think tank of the economy. The president's men otherwise called business men are not supposed to be members. There is conflict of interest. It is a contradiction. It is ridiculous. This can only happen in Nigeria,' he said.Also commenting, a financial analyst and university don, Dr Osaro Obobaifoh, said Otedola had no moral justification to be a member of the team with such huge debt hanging on his neck, adding that he shouldn't be a decision maker in an economy which he was helping to destroy.
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