President Bola Tinubu has officially nominated Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN). Cardoso’s nomination comes with a proposed term of five years, pending confirmation by the Nigerian Senate.
This nomination 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 prerogative to appoint the CBN Governor and four Deputy Governors, subject to Senate confirmation.
Additionally, President Tinubu has put forth the names of four individuals to serve as Deputy Governors of the Central Bank of Nigeria. Their proposed term is also five years, awaiting confirmation by the Nigerian Senate. The nominees are as follows:
1. Emem Nnana Usoro
2. Muhammad Sani Abdullahi Dattijo
3. Philip Ikeazor
4. Bala M. Bello
These nominations reflect President Tinubu’s commitment to his “Renewed Hope” agenda. It is expected that the nominated individuals will play a pivotal role in implementing essential reforms within the Central Bank of Nigeria. These reforms aim to bolster the confidence of both Nigerians and international partners in the ongoing efforts to reshape the Nigerian economy, ultimately working towards sustainable growth and prosperity for all.