The hoisting of a Special Adviser intermediary by the President in between the Central Bank of Nigeria (CBN) and himself could unwittingly lead to the discounting of the monetary policy independence of the CBN. The argument in some quarters when Edun’s appointment was announced was that the apex regulatory bank, as contemplated, should report directly to the President, not through a Special Adviser.
One of the germane arguments is that the system for processing and understanding issues around monetary policies should be at a robust reporting level that should be driven by the President’s Economic Team to be synchronized by the Minister of Finance and Coordinating Minister of the Economy.
