Forex: Cardoso dancing around the problem, Bwala asks Tinubu to sack bank execs

Forex: Cardoso dancing around the problem, Bwala asks Tinubu to sack bank execs

 

A former spokesman of the Atiku-Okowa presidential campaign council, Daniel Bwala, has urged President Bola Tinubu to sack the Governor of the Central Bank of Nigeria, CBN, Yemi Cardoso.

He also asked the President to replace all the bank chief executives and investigate their Forex deals over the years.

He said Tinubu should replace Cardoso with someone without history of bank executive role who would be ruthlessly committed to reforms.

He made the call while identifying how to deal with the Forex crisis in the country.

Posting in X, Bwala wrote: “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.”