President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria, for a term of five years at the first instance, pending his confirmation by the Nigerian Senate.
This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and four deputy governors for the CBN, subject to confirmation by the Senate of the Federal Republic of Nigeria.
Cardoso is a banker, chartered stockbroker and public policy maker.
He served as the former chairman of Citibank Nigeria and was the Commissioner for Lagos State Ministry of Economic Planning and Budget.
Tinubu has also approved the nomination of four new deputy governors of the CBN, for a term of five years at the first instance, pending their confirmation by the Nigerian Senate, as listed below:
(1) Mrs. Emem Nnana Usoro
(2) Mr. Muhammad Sani Abdullahi Dattijo
(3) Mr. Philip Ikeazor
(4) Dr. Bala M. Bello
A statement from presidential spokesman, Ajuri Ngelale noted, “In line with President Bola Tinubu’s Renewed Hope Agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.”