Did Tinubu Ask CBN Gov Cardoso to Resign? Presidency Opens Up

• The presidency has spoken on the report that President Bola Tinubu ordered Yemi Cardoso, the CBN governor, to resign from his position immediately
• According to a terse statement from the presidency, Tinubu has not given such an order, contrary to the claim
• The report claimed that Tinubu gave the order because of the continuous fall of the naira against the dollar

The presidency has debunked the report that President Bola Tinubu has ordered Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN), to resign immediately.

Bayo Onanuga, the president's special adviser on information and strategy, quoted the report and said the claim was untrue, adding that the president never made such a statement.

According to a newspaper report, not Legit.ng, Tinubu had ordered Cardoso to step down as governor of the apex bank due to his inability to address Nigeria's economic struggles, particularly the sharp decline of the naira.

Read also

Presidency clarifies CBN governor Cardoso's reported sack as naira crashes to six-month low

The medium noted that sources revealed Cardoso, who was nominated for the position with the support of the Yoruba Elders, failed to deliver on his promise to stabilize the naira and revitalize the economy. Specifically, he had pledged to return the naira to between N700 and N900 to $1 by May 29, 2024.

However, under Cardoso's leadership, the naira experienced a historic fall, dropping from N950/$1 at his appointment to N1645.626/$1 as of September 12, 2024 – a 117.41% decline. This downward spiral began immediately after his nomination and has persisted throughout his tenure.

Yoruba elders begs Tinubu over CBN governor

The report further added that despite pleas from the Yoruba Elders to retain Cardoso, President Tinubu issued the directive before departing for China. Cardoso's removal was seen as a response to his inability to address the economic challenges facing Nigeria.

Read also

Fresh twist as Bauchi governor dares Wike: "My job is my job"

But Onanuga, in a tweet on Tuesday, September 17, said the claim was a lie. His tweet read:

"It’s all lies. President Tinubu has not asked Yemi Cardoso to resign."

See Onanuga's tweet below:

PDP chieftain calls for Cardoso, Edun's sack

This comes as the chieftain of the Peoples Democratic Party (PDP), Rilwan Olanrewaju, asked President Tinubu to sack Cardoso and the minister of finance, Wale Edu.

In an exclusive interview with Legit.ng, Olanrewaju said they were appointed because of their personal relationship with the president. His stated:

"Mr Cardoso and Wale Edun are two confused people who found their way into power because their godfather rigged his way into Aso Rock, not because they are truly qualified. It’s sad that Tinubu continued from where Buhari stopped. The government of Padi Padi."

Naira vs dollar: Reno Omokri tackles Binance

Legit.ng earlier reported that Reno Omokri, a PDP chieftain and former presidential aide, condemned Binance's allegation that officials in NSA Nuhu Ribadu's office demanded a bribe from the cryptocurrency company.

Read also

“We can’t blame anyone”: Tinubu identifies cause of Maiduguri flood

Omokri said the allegations were a ploy to escape the prosecution for their criminality because Binance had just admitted to money laundering and other dishonest acts in the US.

The former presidential aide then challenged the cryptocurrency company to name names of the officials who demanded the $150 million bribe at the NSA office.

Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.

Source: Legit.ng