Nigerian students under the umbrella body, National Association of Nigerian Students,NANs has called for the immediate sack and replacement of Dr Olayemi Cardoso, for what they referred to as “incompetence “and deficiency in ” necessary expertise in international economics” that should guide him steer the Apex bank to “financial stability’
NANS in a statement on Wednesday signed by the Coordinator and Public Relations Officer, South West Zone D,Alao John, and Bamigboye Peter Oluwadamilola respectively said that Cardoso’s inexperience in handling monetary affairs at the level of the CBN and the global square poses a risk to Nigeria ‘s economic growth..
“It is evident that the incumbent CBN Governor lacks the necessary expertise in international economics. This deficiency poses a significant risk to Nigeria’s economic interests, particularly in navigating the complexities of global economic dynamics and fostering sustainable growth,”
It therefore called on the Federal Government to appoint someone with the required credentials, knowledge and ability to fix the current monetary woes and inspire economic prosperity.
“NANS urges the federal government to prioritise the appointment of a CBN Governor who possesses a comprehensive understanding of international economics, as well as the ability to collaborate effectively with fiscal authorities.”
NANS said that the office of the CBN governor required competent persons with” clearly defined performance targets set for the occupier of that office adding that the absence of these hampers” accountability and transparency”
“NANS urges the federal government to appoint a CBN Governor with the requisite expertise in international economics and monetary policy as Cardoso is incompetent, he is unprepared and not ready for the job.
The selected candidate must demonstrate the ability to address current economic challenges and advance Nigeria’s interests on the global stage.
“The federal government should develop clear and measurable performance targets for the CBN Governor, encompassing key areas such as price stability, financial system stability, and economic growth. Regular performance assessments should be conducted to ensure accountability and drive performance improvement.
“NANS recommends the implementation of regular reporting mechanisms, whereby the CBN Governor provides quarterly updates on their performance and achievements. This practice would enhance transparency and facilitate informed decision-making by stakeholders.
“NANS emphasizes the urgent need for competent and accountable leadership at the helm of the Central Bank of Nigeria. By appointing a Governor with the requisite expertise and establishing clear performance metrics, Nigeria can ensure effective monetary policy implementation and safeguard the nation’s economic interests.
“NANS stands ready to collaborate with the federal government in advancing these objectives for the prosperity of all Nigerians.” The statement reads.
