ABUJA, Nigeria – President Bola Tinubu has given his approval for the nomination of Dr. Olayemi Michael Cardoso to assume the position of Governor of the Central Bank of Nigeria (CBN) for an initial term of five (5) years, pending confirmation by the Nigerian Senate.
This announcement was made in a statement released on Friday by Ajuri Ngelale, Special Adviser to the President on Media & Publicity.
The decision of Cardoso nomination aligns 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 appoint the Governor and four (4) Deputy Governors for the CBN, subject to confirmation by the Senate.
Additionally, President Tinubu has endorsed the nomination of four new Deputy Governors of the CBN, each for a term of five years, awaiting confirmation by the Nigerian Senate. They include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
Under President Bola Tinubu’s “Renewed Hope” agenda, he anticipates the nominees to implement crucial reforms at the Central Bank of Nigeria.
These reforms aim to bolster the confidence of both Nigerians and international partners, fostering the restructuring of the Nigerian economy towards sustainable growth and prosperity for all, as stated in the release.