President Bola Ahmed Tinubu did not ask Yemi Cardoso, Governor of the Central Bank of Nigeria (CBN) to resign, the presidency has said.
A report on Tuesday alleged that Tinubu asked Cardoso to resign from his position owing to his inability to stop the poor performance of the economy, most especially, the free fall of the naira.
The report also alleged that Tinubu instructed Cardoso to step down before his departure to China, despite alleged efforts by prominent Yoruba leaders to retain him in the role.
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“Cardoso, who reportedly secured the nomination for the plum job through the Yoruba Elders, allegedly lacks the knack to turn around the troubled institution and the poor economy he inherited.
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“Cardoso’s undoing, according to insiders, is his inability to live up to the promise he made to President Tinubu in January to salvage the Naira and return it to between N700 and N900 to $1 before May 29, 2024, and also, save the economy from the ruins it currently lays,” the report disclosed.
Reacting via X, Bayo Onanuga, Special Adviser to the President on Information and Strategy, called the report false.
“It’s all lies. President Tinubu has not asked Yemi Cardoso to resign,” Onanuga wrote.
The CBN Governor was appointed by Tinubu on September 22, 2023 and within the first year of Cardoso’s tenure, the Naira has depreciated by 124.39 percent in the official window and depreciated by 66.83 percent in the parallel market.
