Presidency reacts to reports of Tinubu sacking CBN governor over naira fall
The presidency has refuted reports that President Bola Tinubu ordered Central Bank of Nigeria (CBN) Governor Olayemi Cardoso to resign.
Inside Business had claimed that Tinubu dismissed Cardoso due to his inability to halt the naira’s decline and address economic challenges.
According to the report, Tinubu supposedly issued the order before departing for China, despite appeals from Yoruba Elders who supported Cardoso’s tenure.
Cardoso, who was nominated for the position with backing from these elders, allegedly struggled to meet expectations, including his commitment to stabilize the naira and improve the economy.
Insiders pointed to his failure to meet a January promise to reduce the naira’s exchange rate to between N700 and N900 per dollar by May 29, 2024, as a critical factor in his reported dismissal.
However, in a brief statement on Tuesday evening, presidential aide Bayo Onanuga dismissed these claims, stating,
“It’s all lies. President Tinubu has not asked Yemi Cardoso to resign.”
