Former spokesperson of the Atiku/Okowa Presidential Campaign Organisation, Daniel Bwala, has publicly urged President Bola Tinubu to dismiss Olayemi Cardoso from his position as the Governor of the Central Bank of Nigeria (CBN), citing concerns over the ongoing foreign exchange crisis in the country....CONTINUE READING
Bwala emphasized his recommendation by proposing that President Tinubu should also consider replacing top bank executives, suggesting that their allegiance to the profit motives of the private sector might not align with the national interest in stabilizing Nigeria’s economy.
In a statement posted on Bwala’s X account on Friday, he stated, “The key to dealing a blow to the Forex crisis against the naira is a bit similar to the Enron Scandal in the US; which also require tough political decisions.”
He continued, “Simply sack all the bank execs; they are the only private sector players posting profits without loss since 2015 to date.”
Bwala, known for his engagement with President Tinubu, particularly critiqued Cardoso’s tenure at the CBN, suggesting that the current governor has not effectively addressed the core issues affecting Nigeria’s foreign exchange market.
According to Bwala, the ideal candidate for the role of the apex bank’s governor would be someone without a background as a bank executive, implying that such a background might cloud their judgment or priorities when dealing with the nation’s financial stability.
He added, “Force them to pay up all loans (if any) obtained from FGN in one week or seize their assets to recover same. Replace them with CBN compliant execs.
Appoint a new CBN governor without a history of bank exec role who would be ruthlessly committed to this reform (if the present CBN governor is not prepared for that) Cardoso appears to be dancing around the elephant in the room. President Bola Tinubu must succeed with his reform agenda…CONTINUE READING>>
