President Bola Tinubu has appointed Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN), with a term of five (5) years, pending Senate confirmation.
This development was made public in a recent State House press release signed by the Special Adviser to Tinubu on Media and Publicity, Ajuri Ngalele and made available to Truth Live News.
According to the release, the appointment alings with the Central Bank of Nigeria Act, 2007, which grants the President the authority to appoint the CBN Governor and Deputy Governors, subject to Senate approval.
In the same vein, the President Tinubu has also appointed four new Deputy Governors for the CBN, each with a five-year term, awaiting Senate confirmation:
1. Mrs. Emem Nnana Usoro
2. Mr. Muhammad Sani Abdullahi Dattijo
3. Mr. Philip Ikeazor
4. Dr. Bala M. Bello
The press statement reads:
“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.”