Former spokesperson of the Atiku/Okowa Presidential Campaign Organisation, Daniel Bwala, has made a public appeal to President Bola Tinubu, urging him to remove Olayemi Cardoso from his position as the Governor of the Central Bank of Nigeria (CBN) amidst concerns surrounding the ongoing foreign exchange crisis in the nation.
Bwala underscored his recommendation by suggesting that President Tinubu should also contemplate replacing other top bank executives, expressing doubts about their alignment with national interests in addressing Nigeria’s economic stability, given their apparent prioritization of private sector profit motives.
In a statement shared on Bwala’s X account on Friday, he asserted, “Resolving the Forex crisis, akin to the Enron Scandal in the US, demands resolute political decisions.”
He further commented, “A straightforward measure would be the dismissal of all bank executives, the sole private sector entities consistently reporting profits from 2015 to present.”
Known for his association with President Tinubu, Bwala particularly scrutinized Cardoso’s tenure at the CBN, suggesting inadequacies in addressing the fundamental issues affecting Nigeria’s foreign exchange market.
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Bwala advocated for a CBN governor devoid of a banking executive background, expressing concerns that such affiliations might influence their judgment or priorities concerning the nation’s financial stability.
He proposed, “Compel the repayment of any loans owed to the Federal Government within one week, or seize assets to recover the debts. Replace them with executives compliant with CBN directives.
Nominate a new CBN governor lacking a history in bank executive roles, committed to rigorous reform if the incumbent CBN governor is unwilling.
Cardoso appears to evade confronting the core issues. President Bola Tinubu’s reform agenda must succeed.”
