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) for an initial five-year term, pending confirmation by the Nigerian Senate. This action adheres to 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 of the CBN, subject to Senate confirmation.
Additionally, President Tinubu has sanctioned the nomination of four individuals as Deputy Governors of the CBN, also for an initial five-year term, awaiting Senate confirmation. These nominees include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
Aligned with President Tinubu’s Renewed Hope agenda, he expects these appointees to spearhead crucial reforms within the Central Bank of Nigeria. These reforms are intended to boost the confidence of both Nigerians and international partners in the revitalization of the Nigerian economy, promoting sustainable growth and prosperity for all.