President Bola Tinubu announced the appointment of Dr. Olayemi Michael Cardoso as the next Governor of the Central Bank of Nigeria (CBN) on Friday.
Alongside Dr. Cardoso, four new deputy governors have also been nominated, and their confirmation awaits the scrutiny of the Nigerian Senate.
Ajuri Ngelale, the spokesperson for President Tinubu, conveyed this momentous news through an official statement. According to Ngelale, Dr. Cardoso will take the helm at the CBN for an initial term of five years, pending confirmation by the Nigerian Senate. This appointment aligns with the provisions of Section 8 (1) of the Central Bank of Nigeria Act, 2007, which empowers the President of the Federal Republic of Nigeria to appoint the Governor and four Deputy Governors for the CBN, subject to the Senate’s confirmation.
Ajuri Ngelale stated, “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.”
The four individuals nominated for the roles of Deputy Governors are:
- Mrs. Emem Nnana Usoro
- Mr. Muhammad Sani Abdullahi Dattijo
- Mr. Philip Ikeazor
- Dr. Bala M. Bello
The spokesperson continued, “The four new Deputy Governors of the Central Bank of Nigeria (CBN) will also serve for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate.”
Ajuri Ngelale concluded, “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.”
President Bola Tinubu’s Renewed Hope agenda aims to rejuvenate the nation’s economy, and these appointments are a significant step toward that goal. As the nominees await confirmation by the Nigerian Senate, the nation anticipates the positive impact their leadership will have on Nigeria’s path to sustainable growth and prosperity.