Presidency Debunks Rumours of CBN Governor's Resignation

 Special Adviser to the president on information and strategy, Bayo Onanuga, has in a post on social media, firmly debunked allegations stating that president Bola Ahmed Tinubu demanded that the Central Bank governor, Yemi Cardoso, tender his resignation as soon as possible. The reports asserted that president had demanded the CBN governor's resignation before official his trip to China as a result of Mr Cardoso's  inability to deliver on his promise to revive the Naira or stop the currency's steady depreciation since his June 2023 appointment as head of The Central Bank. Dismissing the rumour in a brusque post on the social media platform X, Bayo Onanuga wrote: "It's all lies. President Tinubu has not asked Yemi Cardoso to resign."

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Yemi Cardoso was appointed Head of Nigeria's Central Bank by President Bola Ahmed Tinubu in June 2023, following the suspension of Godwin Emefiele amidst his legal battle. Yemi Cardoso was appointed for a five year term which is open to subsequent reappointment. Before his appointment as Central Bank Governor, Olayemi Michael Cardoso, widely known as Yemi Cardoso, was a prominent figure in Nigeria's finance industry and public policy. With a career spanning over three decades, he served as former chairman of Citibank Nigeria and was the Commissioner for Lagos State Ministry of Economic Planning and Budget. Yemi Cardoso is the founding chairman and co-chair of Ehingbeti Summit, the Lagos state economic summit.