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Oba of Benin Tasks CBN Governor Cardoso To Tackle Corruption, Lay Path For Economic Recovery

Lucky Obukohwo Reporting 


Oba of Benin, Ewuare II, has tasked the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to tackle corruption in the nation’s apex bank and lay out a path for economic recovery.

He gave the task when the Benin Branch Controller of CBN, Michael Mgbeze, led his management team in Edo State on a courtesy visit to his palace in Benin.

The Oba decried the unpleasant revelations of money taken away from CBN and missing funds under the past leadership of the bank, even as he tasked the new CBN governor to come up with monetary policies that will be beneficial to the economy and Nigerians.

He prayed to God and his ancestors for stability in the monetary policies in the apex bank and reforms in the banking sector.

“What we have been hearing about CBN has not been encouraging as it concerns money loss. Money taken away from CBN, the investigations and so on and so forth.

“The apex bank has been through a lot of financial crisis especially during the general elections. We all know the story,” Oba Ewuare II said.

Earlier, Mgbeze, who acknowledged some of the challenges that are facing Nigeria’s apex bank, assured Cardoso and his management team are working on efficient monetary policies to tackle the ugly trends, including high inflation, high unemployment and the exchange rate.

He said that the CBN’s management team is also working on a realignment of the monetary and fiscal policies toward resolving the problems in the banking sector.



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