Financial Experts Proposed as Possible Replacements for CBN Governor Emefiele

Financial Experts Proposed as Possible Replacements for CBN Governor Emefiele

…By Lola Smith for TDPel Media. President Asiwaju Bola Ahmed Tinubu has been recommended two financial experts as potential replacements for the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

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Emefiele has held the position for nearly nine years and may soon vacate the position amidst controversies surrounding the implementation of the Naira swap policy during the 2023 election period.

During an interview with Arise Television, Senior Advocate of Nigeria (SAN) Olisa Agbakoba urged President Tinubu to promptly replace Emefiele with either Mustafa Chike-Obi, Chairman of Fidelity Bank Nigeria, or Yemi Cardoso, Chairman of the Board of Directors of Citibank Nigeria.

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Agbakoba also advised Tinubu to swiftly appoint his cabinet, emphasizing the importance of selecting capable individuals.

Agbakoba further suggested that Tinubu should divide the Transport Ministry into four sub-ministries, encompassing rail, road, shipping, and air.

He proposed that the Works Ministry be integrated into the Transport Ministry.

Recently, President Tinubu met with Emefiele and Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL).

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Their discussion primarily revolved around the removal of fuel subsidy.

Although Tinubu had announced the end of fuel subsidy in his inaugural speech on May 29, sources from the presidency revealed that the immediate removal of the subsidy has been postponed.

According to the sources, the meeting aimed to clarify matters related to the fuel subsidy and plan for engagements with labor unions.

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The presidency intends to ensure a smooth transition in removing the subsidy and prevent the importation of substandard fuel into the country.

In the wake of the meeting, fuel scarcity led to long queues at petrol stations, with some marketers selling fuel at exorbitant prices and transporters increasing fares.

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