Onuesoke Seeks Independence for CBN

Sylvester Idowu in Warri 

Chairman of DAS Energy Services in Udu near Warri, Chief Sunny Onuesoke, has called for the full independence of the Central Bank of Nigeria (CBN), noting that economic stability and investor confidence could only be achieved when the apex bank operates without political interference.

Speaking during an interactive session with journalists in Warri, Delta State yesterday, Onuesoke said the nation’s economy requires strong institutions that can make professional financial decisions based on economic realities rather than political pressure.

According to him, the independence of the Central Bank remains a critical pillar in safeguarding the value of the naira, controlling inflation and restoring public confidence in Nigeria’s financial system.

“True economic growth can only thrive when the Central Bank of Nigeria operates independently, free from political interference and focused on protecting the value of the naira and the future of Nigerians,” Onuesoke stated.

He further stated that countries with stable economies often maintain central banks that were allowed to function professionally and transparently and urged policymakers and stakeholders to strengthen laws that protect the autonomy of the CBN.

Onuesoke also emphasised the need for fiscal discipline, accountability and sound monetary policies to attract both local and foreign investments into the country.

He called on the federal government, lawmakers, and financial experts to work together in rebuilding trust in the nation’s economy through institutional reforms and economic transparency.

Economic analysts have continued to debate the role of central bank independence in developing economies, with many agreeing that policy consistency and credibility are essential for sustainable growth.

Onuesoke however encouraged Nigerians to remain hopeful, adding that with the right economic policies and leadership, the country can overcome its current financial challenges and achieve long-term prosperity.