From Tony Osauzo, Benin
The Oba of Benin, Oba Ewuare II, CFR, has urged the Central Bank of Nigeria (CBN) Governor, Dr. Olayemi Cardoso to fight corruption in the nation’s apex Bank and lay out a path for economic growth.
He gave the advice when the Benin Branch Controller of CBN, Mr Michael Mgbeze, led his Management team in Edo State on a courtesy visit to his Palace in Benin City.
The Benin monarch lamented 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 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”, the Oba said.
Earlier, the Benin Branch Controller of CBN, Mr Michael Mgbeze, who acknowledged some of the challenges that are facing Nigeria’s apex Bank, assured that the CBN Governor, Dr. Olayemi Cardoso and his Management team are working on efficient monetary policies to tackle the ugly tends, including high inflation, high unemployment and the exchange rate.
He further revealed 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.