President Bola Tinubu has given his approval for the appointment of Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN), as stated by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, in a statement on Friday.
The statement indicates that Cardoso’s term will initially be for five years, subject to his confirmation by the Nigerian Senate.
Tinubu’s decision aligns with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which grants the President of Nigeria the authority to appoint the Governor and four Deputy Governors for the CBN, with confirmation by the Senate.
Additionally, President Bola Tinubu has also approved the nomination of four new Deputy Governors for the CBN.
Their term will also be for five years, pending 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.
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.