President Bola Tinubu has given his endorsement to the appointment of Dr. Olayemi Michael Cardoso as the prospective Governor of the Central Bank of Nigeria (CBN). The initial term for this appointment is five years, pending confirmation by the Nigerian Senate.
This decision is consistent with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which grants the President of the Federal Republic of Nigeria the authority to designate the Governor and Four Deputy Governors for the Central Bank of Nigeria (CBN), subject to the Senate’s confirmation.
Furthermore, President Tinubu has also granted approval for the selection of four new Deputy Governors of the Central Bank of Nigeria (CBN) for an initial term of five years, subject to confirmation by the Nigerian Senate. These nominees include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
In addition, President Tinubu has directed these nominees to execute vital reforms at the CBN that will bolster the confidence of both Nigerians and international partners, contributing to the revitalization of the Nigerian economy for sustained growth and prosperity. This aligns with his administration’s renewed hope agenda.