Mr Tinubu in a broadcast to mark the country's 63rd Independence Anniversary said he has started the housecleaning and has appointed a new leadership for the bank.

Nigeria's central bank had become a 'den of malfeasance' that needed a 'thorough housecleaning,' President Bola Tinubu said Sunday.

Mr Tinubu in a broadcast to mark the country's 63rd Independence Anniversary said he has started the housecleaning and has appointed a new leadership for the bank.

"I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway. A new leadership for the Central Bank has been constituted," he said. "Also, my special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences. Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy."

PREMIUM TIMES reported that Mr Tinubu recently appointed Yemi Cardoso as the new CBN governor after the controversial removal of Godwin Emefiele.

Mr Cardoso's appointment has since been confirmed by the Senate.

Details later...