Some Nigerians in diaspora under the Renewed Hope Vanguard based in the United Kingdom have condemned the hardship in the country and petitioned President Bola Tinubu to remove the Central Bank governor, Yemi Cardoso over the foreign exchange crisis.
The UK group in a release sent to SaharaReporters on Wednesday noted that it was embarrassing for the Nigerian government that the naira continued to fall against other currencies especially the dollar, worsening the plight of Nigerians.
The group said it had slated a protest for Nigerians living in the UK on Wednesday, “the 14th of February 2024 to press forward with their demands and submit a letter to the UK Parliament, seeking their intervention to save Nigeria from hunger, starvation and hardship.”
The Renewed Hope Vanguard in the petition signed by the coordinator, Mr. Dickson Ojema, said the CBN boss, Cardoso, had misled the government to “endorse very unrealistic and unattainable policies especially the floating of forex.”
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The group said, “As concerned Nigerians in the diaspora, we are saddened by the worsening economic situation in our dear country and the excruciating pain Nigerians have been enduring due to the unpopular, kindergarten and infantile financial policies of the Central Bank of Nigeria (CBN) under the leadership of Yemi Michael Cardoso.
‘It is embarrassing that the naira has continued to fall against other currencies especially the dollar, worsening the plight of Nigerians. Yemi Cardoso misled Mr. President to endorse very unrealistic and unattainable policies especially the floating of forex. Nigerians are heavily paying the price for this ineptitude with the naira exchanging for as high as ₦1500 for $1 on the official and parallel market. The only way out of this quagmire is to sack Yemi Cardoso and replace him with a competent hand.”
It added, “The total destruction of the naira and his stark inability to manage inflation has resulted into a very high standard of living all over Nigeria. A bag of rice that sold for ₦7000 in 2014 has now become ₦70,000 or more. Nigerians are buying a bag of maize now at ₦60,000 while a bag of beans is ₦110,000. People’s salaries can no longer feed them. Hunger has become widespread and unchecked. If Yemi Cardoso remains as the CBN Governor, our economy will collapse.”
The group said it shared the pains as well as frustration of Nigerians who are living in the homeland and issued a two-week ultimatum for the immediate sack of Yemi Cardoso, else, they would lock down all CBN branches and international airports in a “mother-of-all protests.”
According to the letter, “majority of Nigerians who can no longer afford basic needs are visibly angry and disappointed with the lackadaisical handling of the economy especially the anti-human policies of the CBN. We share in their anger and frustration because we had confidence in this administration. The best way to stabilise the economy and end this hardship and uncertainty which is at the heart of rising insecurity in the country is to sack Yemi Cardoso and appoint a financial technocrat.”
