Oba Of Benin Urges Cardoso To Sanitise CBN

Omo N’ Oba N’ Edo, Uku Akpolokpolo, Ewuare II, Oba of Benin 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.

Oba Ewuare II 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 Oba’s Palace in Benin City.

He lamented unpleasant revelations of money taken away from CBN and missing funds under the past leadership of the Bank with a nimble metaphor.

Oba Ewuare II also tasked the new CBN Governor to come up with monetary policies that will be beneficial to the economy and Nigerians.

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

According to him, “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.”

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 trends, 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.