Home News Ex-ANAN president urges Cardoso to stick to CBN mandate

Ex-ANAN president urges Cardoso to stick to CBN mandate

Mr Olayemi Cardoso

SANGO-OTA- A former President of Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, has advised the new Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, to operate and stick to the apex bank mandate.

Nzekwe gave the advice while speaking with the News Agency of Nigeria (NAN) on Monday in Ota, Ogun.

He was reacting to President Bola Tinubu’s  nomination of Olayemi Cardoso, as the new CBN governor and other four deputy governors for apex bank, on Friday in Abuja.

NAN recalls that Tinubu on Friday approved the nomination of Olayemi Cardoso, to serve as the CBN Governor for five years at the first instance, pending his confirmation by the Nigerian Senate.

He said that there was the need for the new CBN Governor to stick to its mandate, not going to different borrower’s programmes and others, which was happening in the apex bank before.

The former ANAN president added that the apex bank concentrated on the fiscal policies than its core mandate.

“Cardoso should be able to avoid that and face its Mandate by placing more emphasis on how to stabilise the currency and mitigate against the nation’s inflation rate.” he said.

The former ANAN president said that he should stay on the CBN mandate, which established  apex bank laws rather than going into the other activities and fiscal areas.

He said that Cardoso should concentrate on how to generate more foreign exchange and improve interest rate rather than going into lending money to some sections of the economy.

Nzekwe urged the new CBN boss to be transparent, committed and disciplined and work according to his mandate

He also admonished him against personal interests, in order not to fall into problem but to perform well as CBN Governor. (NAN)

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