Tinubu: Under Emefiele, CBN Was ‘Den Of Malfeasance’

President Bola Tinubu, has described the Central Bank of Nigeria (CBN), under the immediate past governor, Godwin Emefiele, as a “den of malfeasance.”

Tinubu said this during his broadcast to mark Nigeria’s 63rd Independence Anniversary.

The president affirmed that a new set of leaders has been constituted in the nation’s apex bank, adding that efforts would be made to reveal lapses and prevent similar occurrences.

“I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway. A new leadership for the Central Bank has been constituted,” Tinubu said.

“Also, my special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences. Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.”

Last week, the Senate confirmed Dr Yemi Cardoso as the governor of the CBN, having been appointed by Tinubu alongside four deputies.

Emefiele has been accused for allegedly introducing naira redesign to ‘incapacitated’ Tinubu in the buildup to the 2023 general election.

Naira redesign monetary policy brought untold hardship on Nigerians in late 2022 and early 2023, as the currencies became scarce.

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