Cardoso Resignation Rumors Are Lies, Says Presidency

The Presidency firmly denies rumours about Cardoso’s resignation, calling the claims a ‘bundle of lies.’ Get the full story on this debunked news.

Reports alleging that President Bola Tinubu requested Yemi Cardoso, the Governor of Central Bank Nigeria (CBN), to step down from his position have been refuted by the Presidency.

On Tuesday, Bayo Onanuga – the President’s Special Adviser on Media and Strategy – denied these rumors using his official X account (formerly Twitter), labeling them as deceitful allegations.

Dismissing the circulating claims as falsehoods, Onanuga made it clear that President Tinubu did not request Yemi Cardoso to step down.

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According to the erroneous report, President Tinubu supposedly instructed Cardoso prior to embarking on his trip to China, despite opposition from influential Yoruba figures.

Criticism has been directed towards Yemi Cardoso for his management of Nigeria’s economic struggles and the faltering stability of the Naira, since beginning his term on September 22, 2023.

On September 15, 2023, President Tinubu nominated Cardoso to assume the role of Governor of CBN after acting Governor Folashodun Shonubi. As a seasoned economist and development policy expert, his appointment was promptly endorsed by the National Assembly.