Naira vs Dollar: Why Tinubu Should Sack Cardoso, Wale Edun

Naira vs Dollar: Why Tinubu Should Sack Cardoso, Wale Edun

  • President Bola Tinubu has been urged to sack the minister of finance and CBN governor, Wale Edun and Yemi Cardoso, over failed economic policies
  • PDP chieftain Rilwan Olanrewaju made the call in an exclusive interview with Legit.ng, noting that it was unnecessary to fight Binance and other cryptocurrency companies
  • According to the PDP chieftain, the cryptocurrency companies have been existing before the emergence of Tinubu's administration and should not be blamed for the naira's weakness

Legit.ng journalist Bada Yusuf is an accomplished politics and current affairs editor, boasting over seven years of experience in journalism and writing.

President Bola Tinubu has been asked to sack the governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, and the minister of finance and coordinating economy, Wale Edun, over their failed economic policies that weaken the naira.

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Ridwan Olanrewaju, a chieftain of the Peoples Democratic Party (PDP), made the call in an exclusive interview with Legit.ng, saying that the clampdown on the cryptocurrency giant Binance was unnecessary if Cardoso and Edun had effective economic and monetary policies.

Rilwan Olanrewaju, a chieftain of the PDP, has said President Bola Tinubu should sack the minister of finance, Wale Edun and the CBN governor, Yemi Cardoso, saying they're implementing failed economic policies and fighting Binance was unnecessary.
PDP chieftain urged Tinubu to sack Wale Edun, Yemi Cardoso Photo Credit: @officialABAT, @DrYemiCardoso
Source: Twitter

The PDP chieftain also berated the ruling All Progressives Congress (APC) for always playing the victim card and not taking up responsibilities. He added that Binance had been in the country for a long time, and the cryptocurrency company should not be blamed for the weakness of the naira.

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PDP chieftain knocks APC over naira crisis

He explained that the ruling party has fought against parents who send their kids abroad for schooling, Bureau de Change (BDC) operators, and many others rather than implementing economic policies to strengthen the naira.

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He said:

"Mr Cardoso and Wale Edun are two confused people who found their way into power because their godfather rigged his way into Aso Rock, not because they are truly qualified. It’s sad that Tinubu continued from where Buhari stopped. The government of Padi Padi.
"Only in Nigeria will the country's financial officers adopt unreal policies to protect the weak currency and recruit many bodies to carry out day-to-day propaganda on the media.
"Binance was never an issue. Binance had been in Nigeria long before these people came to power. Mr Cardoso, under the president's instruction, floated the naira at the very wrong time, which led to borrowing money to defend the naira. They choose to blame finance because they are not used to taking responsibility.
"They have blamed parents who have kids schooling abroad, they have blamed BDC agents, and they hope they won’t one day blame God for their own frivolous actions.

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"The only solution is for the president to sack both Wale Edun and Yemi Cardoso and then recruit worthy candidates who can create proper policies that will change the current system; the question is, does the president himself understand the country's real situation? The answer is no."

Naira vs Dollar: Reno Omokri tackles Binance

Legit.ng earlier reported that Reno Omokri, a PDP chieftain and former presidential aide, has condemned Binance's allegation that officials in NSA Nuhu Ribadu's office demanded a bribe from the cryptocurrency company.

Omokri said the allegations were a ploy to escape the prosecution for their criminality because Binance had just admitted to money laundering and other dishonest acts in the US.

The former presidential aide then challenged the cryptocurrency company to name names of the officials who demanded the $150 million bribe at the NSA office.

Source: Legit.ng

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