Hardship: Restructure CBN now, CSO tells Tinubu 

A rights group, Nigerian Unemployed Youth Vanguard (NUYV) has asked President Bola Ahmed Tinubu to immediately restructure the leadership of the Central Bank of Nigeria (CBN) if he is serious about reviving the ailing economy.

The group stated that  the policies the CBN has introduced has only brought hardship occasioned by hyperinflation. 

The CSO which prides herself as been at the forefront of championing the empowerment of Nigerian youth, especially the teeming population of the unemployed through advocacy and policy engagements maintained that the call became imperative after a critical review of the policies and programmes of the CBN under Mr. Olayemi Cardoso without any clear solution in sight.

Addressing journalists in Abuja  Monday the duo of Comrades Danesi Momoh and Igwe Ude-Umanta, national coordinator and director of Programmes respectively, stated that the management of Nigeria’s economic crisis as it stands now is far beyond the competency of Olayemi Cardoso to fix. 

The group posited that the best way to end the hardship faced by Nigerians is to right the dysfunctional policies of the CBN and revive the ailing economy by injecting vibrant hands to manage the nation’s fiscal and monetary policies.

It regretted that since the coming on board of Mr. Cardoso as the CBN governor, all the policies introduced has only resulted to forex crisis, outrageous interest rates for businesses amongst others with its negative resultant effects. 

“Our very early recommendation is that he should resign or be sacked without any delay. We are currently buffeted on all sides by crisis of continuing and worsening purchasing power of the naira and a sickening forex nightmare; the catastrophe of hyper-inflation and consequent inability of many families to eke out a decent living. Nigeria is faced with monetary and fiscal problems without any clear solution in sight as Cardoso is clearly overwhelmed and powerless.

“It is a pity that under the Renewed Hope Agenda of the current administration, Nigerians are increasingly becoming hopeless. Nigerians are yet to see anything to fire up their hopes, or hear any tangible thing to build their faith about the reforms of the Tinubu administration as Cardoso continues to mask his incompetence in the arrogance of silence and evasion of accountability. This is unacceptable and Cardoso should be sacked to restore the hopes of Nigerians,” he said.