President Tinubu Nominates Olayemi Cardoso as CBN Governor and Unveils Deputy Governors
In a significant development, President Bola Tinubu has officially nominated Dr. Olayemi Cardoso to assume the role of the Governor of the Central Bank of Nigeria (CBN) for an initial tenure of five years, pending the crucial confirmation by the Senate.
The official announcement was conveyed through a statement issued on Friday by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, titled ‘President Tinubu Nominates New CBN Governor and Management Team for Senate Screening and Confirmation.’ This nomination carries immense weight in the country’s financial landscape.
This decision aligns with the provisions of 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 Deputy Governors for the Central Bank of Nigeria, with the condition of Senate approval.
In addition to Dr. Cardoso’s nomination, President Tinubu has extended his approval to the selection of four individuals to assume the role of Deputy Governors at the Central Bank of Nigeria.
These Deputy Governors, much like the Governor, will commence their duties with an initial term of five years, contingent upon the Senate’s endorsement. The newly nominated Deputy Governors include Mrs. Emem Usoro, Mr. Muhammad Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
This strategic move is poised to have a significant impact on the country’s monetary policy and financial stability, pending the Senate’s confirmation of these appointments.
The future direction of the Central Bank and its policies will undoubtedly be closely monitored in the wake of these nominations.