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A former President of Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, has advised the new Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, to operate and stick to the apex bank’s mandate.
Nzekwe gave the advice while speaking with the News Agency of Nigeria (NAN) on Monday in Ota, Ogun.
He was reacting to President Bola Tinubu’s nomination of Olayemi Cardoso, as the new CBN governor alongside four deputy governors of the bank, on Friday in Abuja.
Tinubu on Friday approved the nomination of Olayemi Cardoso, to serve as the CBN Governor for five years at the first instance, subject to his confirmation by the Nigerian Senate.
He restated the need for the new CBN Governor to stick to its mandate, not going to different borrower’s programmes that characterise the CBN under Mr Godwin Emefiele.
The former ANAN president added that the apex bank under immediate past administration concentrated on the fiscal policies than its core mandate which is monetary policy.
“Cardoso should be able to avoid that and face its mandate by placing more emphasis on how to stabilise the currency and mitigate against rising inflation rate.” he said.
He urged the incoming CBN boss to stay on its mandate, as enshrined in the laws that established it rather than going into the other activities and fiscal areas. He also advised Cardoso to concentrate on how to generate more foreign exchange and improve interest rate rather than going into lending money to some sections of the economy.
Nzekwe urged the new CBN boss to be transparent, committed and disciplined and work according to his mandate.
He also admonished him against personal interests, in order not to fall into problem but to perform well as CBN governor.
