JUST IN: President Tinubu Appoints New CBN Governor | #NwokeukwuMascot

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President Bola Tinubu has appointed Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

Cardoso will replace the suspended governor, Godwin Emefiele. 

Tinubu in a statement issued Friday by his Special Adviser to the President on Media and Publicity, Ajuri Ngelale, said the directive was 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 Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.

He will serve for a term of five years at the first instance, pending his confirmation by the Nigerian Senate.

Tinubu in a statement issued Friday

He said: “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: Mrs. Emem Nnana Usoro; Mr. Muhammad Sani Abdullahi Dattijo; Mr. Philip Ikeazor; 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.”

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