By Chris Udochukwu
Legal Practitioner, Barrister Daniel Bwala has revealed the major way to contend with the Forex crisis against the naira which he said is similar to the Enron scandal in the United States but requires tough political decision.
Bwala who stated this via his X account said:
“The key to dealing blow to Forex crisis against the naira is a bit similar to the Enron Scandal in the US; which also require tough political decision;
1. Simply sack all the bank execs; they are the only private sector players posting profits without loss since 2015 to date
2. Make them account for the FX they have been receiving from CBN 2015-2024.
3. Force them to pay up all loans (if any) obtained from FGN in one week or seize their assets to recover same,
4. Replace them with CBN complaint execs,
5. Appoint a new CBN governor without a history of bank exec role who would be ruthlessly committed to this reform (if the present CBN governor is not prepared for that) Cardoso appears to be dancing around the elephant in the room
@officialABAT must succeed with his reform agenda
