Forex crisis: Sack CBN Governor, bank executives, Bwala tells Tinubu

A former spokesperson for Atiku Abubakar’s presidential campaign in the 2023 election, Daniel Bwala, has urged President Bola Tinubu to sack the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, over the foreign exchange crisis in the country.

Bwala, who has been meeting with Tinubu after the president’s inauguration, also called for the removal of all bank executives, describing them as private sector players posting profits without loss since 2015.

He made the call in a statement on his X account on Friday, March 1, 2024.

He enjoined Tinubu to appoint a new CBN Governor without a bank executive role experience, saying Cardoso “appears to be dancing around the elephant in the room”.

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Bwala stated: “The key to dealing blow to Forex crisis against the naira is a bit similar to the Enron Scandal in the US; which also require tough political decision;

“Simply sack all the bank execs; they are the only private sector players posting profits without loss since 2015 to date.

“Make them account for the FX they have been receiving from CBN 2015-2024.

“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 complaint 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.”

The Star