Mixed reactions as Presidency reacts to rumoured sack of Cardoso

The Nigerian Presidency has dismissed recent reports circulating in the media that President Bola Tinubu has fired the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, following the sharp depreciation of the naira in the foreign exchange market.

The rumors, which gained traction on social media and several online platforms, suggested that Tinubu had taken the drastic step due to mounting pressure over the weakening naira and its impact on the economy.

In an official statement released on Tuesday, Ajuri Ngelale, Special Adviser to the President on Media and Publicity, clarified that the reports are entirely false and should be disregarded.

Ngelale emphasized that President Tinubu retains full confidence in the leadership of the CBN under Governor Cardoso, who was appointed recently to spearhead key reforms in the country’s monetary policy.

“There is no truth whatsoever in the rumors that President Tinubu has sacked the CBN Governor. The administration is fully aware of the challenges facing the economy, particularly the volatility of the naira, but the government is taking measured steps to address these issues through a coordinated approach,” Ngelale said.

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The rumors of the CBN governor’s alleged sacking sparked mixed reactions among Nigerians, with some expressing frustration over the current economic situation, while others urged for calm and support of the government’s reform agenda.

“I think the government should be given time to execute its policies. The naira didn’t fall overnight, and we can’t expect a quick fix,” said John Okoye, a Lagos-based financial analyst. “There is a clear strategy in place, and we need to let the experts do their job.”

In contrast, others remain skeptical, questioning the government’s ability to deliver the desired results. “The people are tired of promises. We want to see action, especially with the rising cost of living,” said Aisha Bello, a trader in Abuja.