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05
Tue, Mar

Breaking: Tinubu Nominates Cardoso as New CBN Governor

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President Bola Ahmed Tinubu has approved the nomination of Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN). According to the presidential spokesman, Ajuri Ngelale, who made this disclosure on Friday evening, the nominated CBN governor will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.

In his statement, Mr Ngelale noted that the "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 (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.

"Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate."

Before concluding, Nelale added that “In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the 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.”

The new Deputy Governors include :

(1) Emem Nnana Usoro

(2) Muhammad Sani Abdullahi Dattijo

(3) Philip Ikeazor

(4) Bala M. Bello

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