The Nigerian presidency has refuted claims that President Bola Tinubu requested Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), to step down. Bayo Onanuga, Special Adviser to the President on Information and Strategy, issued a statement dismissing the reports as false.
Onanuga took to his official X (formerly Twitter) account to address the matter, stating, “It’s all lies. President Tinubu has not asked Yemi Cardoso to resign.”
The circulating report alleged that Tinubu gave the directive before leaving for China, despite opposition from Yoruba leaders supporting Cardoso.
Yemi Cardoso, a seasoned banker and economist, was appointed as the CBN Governor in 2023. With over 30 years of experience in banking and financial services, he has held various leadership positions, including serving as Chairman of Citibank Nigeria. Cardoso is also recognized for his significant contributions to public policy, having served as Commissioner for Economic Planning and Budget in Lagos State, where he helped to drive fiscal reforms under then-Governor Bola Tinubu.
Cardoso has recently faced criticism over his handling of Nigeria’s economic challenges, particularly his efforts to stabilize the Naira amid fluctuating foreign exchange rates and rising inflation. Despite the challenges, Cardoso’s expertise in financial strategy and policy remains widely acknowledged.
