Naira crisis: How Cardoso fumbled at Senate’s meeting – US-based Professor

CBN Governor, Olayemi Cardoso

Naira crisis : How Cardoso fumbled at Senate’s meeting – US-based Professor

A United States-based Professor of journalism and emerging media, Farooq Kperogi, as lashed out at the unconvincing ‘display’ by the Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, during an interactive session with a Senate committee on Friday.

Newstrends reports that Cardoso had on Friday appeared before a Senate Committee to explain the reasons for the free fall of naira and other economic challenges in the country that have prompted a serious hardship in Nigeria.

But describing Cardoso’s explanation as empty, Kperogi, who is a Professor at Keenesaw State University, said the CBN governor is shaping up to be the most inept and least intellectually prepared for his job.

“Is Olayemi Cardoso Nigeria’s Worst CBN Governor?
I know awfully little about current CBN governor Olayemi Cardoso. I’d just assumed that to deserve being appointed the governor of the CBN, he must at least be minimally competent and conversant with economic policies.

“But he is shaping up to be the most inept and least intellectually prepared for his job. It isn’t just that he is supervising the free fall of the naira through inconsistent policies, he also doesn’t seem to be able to explain to anyone what exactly he is doing, indicating he doesn’t know what he is doing.

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“On Friday, I watched Cardoso’s meeting with the senate where he couldn’t answer questions from senators without reading from a prepared script. “I object to this!” a senator yelled in response to Cardoso’s lifeless regurgitation of a prepared speech he obviously didn’t understand. “Let him go back and answer the question!”

“Anyone who can’t respond to a question without reading a prepared text obviously has no understanding of what he is talking about. Albert Einstein famously said, “if you can’t explain it simply then you don’t understand it well enough.” Cardoso’s case is even worse. He can’t explain it at all. It explains why the economy is in a mess and the naira is in a worse shape than it has ever been.

” Cardoso’s most important qualification for the job appears to be that he was Economic Planning and Budget commissioner in Lagos when Tinubu was governor, but the job seems to be above his intellectual and experiential paygrade.

” I know of no CBN governor in my lifetime (until Cardoso) who couldn’t articulate economic policies effortlessly. Even Godwin Emefiele had no difficulty defending his policies. You may question his competence or disagree with his policies, but he could at least clearly formulate thoughts about what he was doing. Cardoso gives me the jitters. Nigeria is in way worse trouble than it realizes with an airhead like that as CBN governor, ” Kperogi said in his weekly newspaper column on Saturday.