Political economist Ayo Oyalowo has urged the Central Bank of Nigeria (CBN) to act decisively, drawing comparisons to the audacious actions undertaken by previous CBN governor Sanusi Lamido. CONTINUE FULL READING>>>>>
In response to the current devaluation of the naira, Oyalowo emphasized in an interview with Politics Today on Channels Television that the governor of the CBN should specifically target the managing directors of five banks.
He proposed that removing these executives from their positions and subjecting them to a thorough investigation would serve as a proactive approach to tackling the prevailing economic challenges.
Oyalowo also criticised the CBN’s approach thus far, dismissing memos released over the past week as mere pretence.
He asserted that the CBN is fully aware of the necessary steps to address the situation but has yet to take decisive action.
By advocating for the removal and investigation of the managing directors, Oyalowo signalled his belief that holding key figures in the banking sector accountable could contribute to stabilising the economy.
He said, “If the CBN wants to solve this problem, there is no point pretending and releasing the memo that they have been releasing over the past week. The CBN knows exactly what to do.
“The question is, does the CBN governor have the balls to do what it needs to do? I will give the CBN governor five bank names, and he should go after their managing directors. The same thing Sanusi did in those days: take these guys off and let them be investigated.” CONTINUE FULL READING>>>>>
