In his national address commemorating Nigeria’s 63rd Independence Anniversary, President Bola Tinubu outlined his vision for the Central Bank of Nigeria (CBN). Just days after naming Olayemi Michael Cardoso as the new Governor of the CBN, replacing Godwin Emefiele, President Tinubu pledged to initiate a comprehensive overhaul of the institution to address past irregularities.
Recalling President Tinubu’s appointment of Olayemi Michael Cardoso on September 15, 2023, as Emefiele’s successor, it is evident that the President is determined to bring about significant changes within the CBN.
President Tinubu further disclosed that a special investigator had been tasked with scrutinizing the activities of the apex bank during Emefiele’s tenure. The investigator is expected to present findings on past shortcomings and propose strategies to prevent similar issues from recurring.
The President also assured the nation that monetary policy would benefit all Nigerians, extending its advantages beyond the privileged few. He emphasized his commitment to ensuring that the economic policies of the CBN serve the broader interests of the nation rather than catering exclusively to the powerful and affluent.
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