BREAKING! ! ! Tinubu Order CBN Governor To Resign Over Naira Fall? TRUTH Is Out As Presidency Breaks Silence, Reveals This
Sep 18, 2024
The Presidency has categorically denied reports suggesting that President Bola Tinubu requested the resignation of the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, due to the ongoing depreciation of the Naira. These reports, which surfaced online, alleged that President Tinubu had ordered Cardoso to step down, citing his failure to address the country’ s economic challenges, particularly the persistent decline in the Naira’ s value.
According to the unverified claims, President Tinubu allegedly issued the directive prior to his recent trip to China. The reports further suggested that a group of influential Yoruba elders had intervened, urging the President to reconsider his stance and give Cardoso more time to implement policies aimed at stabilizing the economy. Despite their efforts, the reports claimed that President Tinubu refused to reconsider his decision. Additionally, Cardoso was said to have failed to meet a promise he reportedly made in January to restore the Naira’ s value to an exchange rate of N700- N900 to $1 by May 29, 2024.
The Naira has experienced significant depreciation since Cardoso’ s appointment, with the exchange rate dropping from N950/$1 shortly after his tenure began to N960/$1 and further to N970/$1 in the days that followed. According to the latest information, the situation has worsened, with $1 currently trading for over N1, 600 in the forex market. This dramatic decline has sparked widespread concern and criticism, particularly in light of the governor’ s earlier assurances to improve the Naira’ s performance.
In response to these allegations, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, issued a statement dismissing the rumors as baseless. Onanuga emphasized that there had been no request from President Tinubu for Cardoso to resign, describing the reports as false. ” It’ s all lies. President Tinubu has not asked Yemi Cardoso to resign, ” he stated unequivocally.
This clarification from the Presidency seeks to dispel the growing speculation and maintain confidence in the leadership of the CBN under Cardoso.
