Recession: Ex-GTB Boss Tells FG To Take Drastic Steps | Independent Newspapers Limited
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Recession: Ex-GTB Boss Tells FG To Take Drastic Steps

Recession: Ex-GTB Boss Tells FG To Take Drastic Steps
Posted: Oct 6, 2016 at 11:01 pm   /   by   /   comments (1)
Fola Adeola, former Managing Director of Guaranteed Trust Bank, has called on the Federal Government to take drastic steps to stem the declining country’s economy, failure of which could lead to the total collapse of the economy.
Adeola who made the call in Abeokuta at the weekend insisted that President Muhammadu Buhari’s economic team should do more in taking the country out of the present economic doldrums.
He spoke at the “2016 Sobo Sowemimo Annual Lecture,” organised by the Abeokuta Club with the theme, “That was then, This is now.”
He equally lamented the current poor exchange rate of naira to the dollar, noting, “Naira’s fall is a sign of worst things to come if care is not taken.”
He, however, advised the Federal Government to study the old Western Region’s economic blueprint by late Chief Obafemi Awolowo,  the then Premier, in tackling the problems the country is facing now, rather than the calls for restructuring by scores of Nigerians.
“The tragedy of naira can get worst if care is not taken. This is the only place where yesterday is better than today and the fear is that if care is not taken today might be better than tomorrow.
“Despite the fact that the country had gone through era of transformation from military rule and democratic rule since Independent, a lot of things still need urgent attention.
“We have succeeded as individuals but we failed collectively. Now is not an improvement of then. We must do something urgently,” Adeola added.
The erstwhile chairman of GTB, then, noted that the education sector of the country needs restructuring pointing out that “education remains the strong foundation for better Nigeria.”
While saying there must be an action plan for the development of the sector by the relevant authorities saddled with the responsibilities, Adeola, also lamented the removal of History as a subject from the curriculum of the students, noting that such removal led to the erosion of moral values in the society.
He said, “We have removed history as a subject in schools, how will they (students) understand what drove us to success as a country, how will they know our past heroes’ deeds, sacrifices, characters and morals? How will they know about true integrity? I am so worried about our society that has surrendered to erosion of moral values”.
Earlier, the President of the Club, Chief Adeniyi Lasaki said the lecture was organised for the Club to contribute to national discourse and chart the way forward.
“It is our own way of contributing to the development of a viral national polity thereby bringing about positive change to governance. We in this club do not believe in keeping mute when we can make a difference,” he stated.

Comments (1)

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