In a significant development for Nigeria’s financial landscape, President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN). Dr. Cardoso’s appointment is for a term of five years, subject to confirmation by the Nigerian Senate.
This announcement aligns with the provisions of Section 8 (1) of the Central Bank of Nigeria Act, 2007, which confers upon the President of the Federal Republic of Nigeria the authority to appoint the Governor and four Deputy Governors for the CBN, pending Senate confirmation.
In addition to the Governor’s nomination, President Tinubu has also put forward the names of four individuals to serve as Deputy Governors of the CBN. These nominees are:
- Mrs. Emem Nnana Usoro
- Mr. Muhammad Sani Abdullahi Dattijo
- Mr. Philip Ikeazor
- Dr. Bala M. Bello
Their appointments, like that of the Governor, are for an initial five-year term, subject to the approval of the Nigerian Senate.
These nominations are in line with President Tinubu’s “Renewed Hope” agenda, aimed at revitalizing and restructuring the Nigerian economy for sustainable growth and prosperity. The President expects these nominees to play a pivotal role in implementing crucial reforms at the Central Bank of Nigeria, fostering confidence among Nigerians and international partners.
The selection of Dr. Olayemi Michael Cardoso as the new CBN Governor and the four Deputy Governors marks a significant step toward achieving the economic transformation and stability sought by the administration. As these nominations proceed to the Senate for confirmation, all eyes will be on the expertise and vision these individuals bring to their roles and how they will shape the future of Nigeria’s financial landscape.
For further updates on this development and the Senate confirmation process, stay tuned to official government channels and reputable news sources.
PRESIDENT TINUBU NOMINATES NEW CBN GOVERNOR AND MANAGEMENT TEAM FOR SENATE SCREENING AND CONFIRMATION
President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate. This 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, 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.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity) September 15, 2023
