Former Chairman of the Independent National Electoral Commission (INEC), Professor Attahiru Jega, has advised President Bola Tinubu against accepting all recommendations from the World Bank and the International Monetary Fund (IMF).

Jega suggested that while it is wise to collaborate with these institutions, the federal government should be mindful to avoid potential long-term issues.

The former INEC boss made these remarks during the 2024 Annual Directors’ Conference with the theme, ‘Good Governance as a Catalyst for Economic Recovery, Growth, and Development’, organised by the Chartered Institute of Directors of Nigeria, CIoD.

Jega emphasized the need to reform the leadership recruitment process, adding that a major challenge facing Nigeria is that many leaders are not adequately prepared for their leadership roles.

The IMF and the World Bank have reportedly been accused of advising President Bola Tinubu on current economic policies being implemented in the country.

Nigerians have blamed President Tinubu’s economic policies for the hardships and suffering experienced by citizens, attributing them to the influence of the IMF.

However, the IMF’s African Region Director, Abebe Selassie, dismissed claims that the organization advised Tinubu on the removal of fuel subsidies.

“The decision was a domestic one. It was President Tinubu’s decision. We don’t have programmes in Nigeria. Our role is limited to regular dialogue, as we have with other nations like Japan or the UK,” he said.

Jega encouraged Nigerians to pay serious attention to nurturing and entrenching democratic governance rather than just good governance, as promoted by the World Bank.

“This is the only way to place Nigeria on a sustainable trajectory of what I call ‘People-oriented development processes.’

We should not swallow hook, line, and sinker what they bring to us”.

We must be very careful in terms of what measures they have suggested to us because if we don’t do that, we may advertently or inadvertently fall into greater medium and longer-term problems even if we think we are seeing short-term benefits from that kind of engagement,” he stated.