Juliet Jacob Ochenje
The National Association of Nigerian Students (NANS) has called on President Bola Tinubu to immediately dismiss the Governor of the Central Bank (CBN), Dr. Olayemi Cardoso, due to his apparent lack of technical understanding.
According to NANS, Cardoso’s leadership has caused significant damage to the country’s economy.
NANS made this demand in a statement signed by the Coordinator and Public Relations Officer of NANS Southwest Zone D, Alao John, and Bamigboye Peter Oluwadamilola on Wednesday. stating that as the highest monetary authority in the country, the CBN plays a crucial role in shaping economic policies and safeguarding financial stability.
But they believe it cannot be achieved under Cardoso’s “misguided leadership”.
The students body expressed their concern over the current CBN Governor’s lack of expertise in international economics, stating that this poses a significant risk to Nigeria’s economic interests.
They urged the government to prioritize the appointment of a CBN Governor who has a comprehensive understanding of international economics and the ability to collaborate effectively with fiscal authorities.
The students emphasized the importance of competent leadership in implementing monetary policies that promote economic stability and growth.
Recall that the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Tuesday, had blamed the recent increase in the dollar exchange rate on the rise in Nigerian students who study abroad, as well as foreign medical trips embarked on by Nigerians.
According to him, Nigerians spent over $40 billion to access education and healthcare abroad between 2010 and 2020, noting that the high number of Nigerians in foreign schools and medical tourism are two of the major factors putting pressure on the naira.
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