The Presidency has refuted claims that President Bola Tinubu has requested Yemi Cardoso, Governor of the Central Bank of Nigeria (CBN), to resign. The rumors, circulating on September 17, 2024, alleged that Cardoso was being pressured to step down due to his failure to meet promises regarding the naira’s value against the dollar.
The reports suggested that Cardoso, who took office on September 22, 2023, was unable to stabilize the naira as promised. Under his leadership, the naira’s exchange rate worsened significantly, dropping from ₦738/$ to ₦1,656/$ in the official market, and from ₦995/$ to ₦1,660/$ in the parallel market.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, dismissed these reports as false, affirming that President Tinubu has not asked for Cardoso’s resignation.