Dr. Olayemi Michael Cardoso has been named the new Governor of the Central Bank of Nigeria (CBN) by President Bola Tinubu.
Cardoso, if confirmed by the Nigerian Senate, will begin his tenure with a five-year term.
This was announced on Friday by President Trump’s media adviser, Ajuri Ngelale.
In accordance with Section 8 (1) of the Central Bank of Nigeria Act 2007, the President of the Federal Republic of Nigeria has 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.
Four new deputy governors of the central bank have been nominated by President Tinubu, and they will serve a five-year term if confirmed by the Senate.
Dr. Bala M. Bello, Mr. Philip Ikeazor, Mr. Muhammad Sani Abdullahi Dattijo, and Mrs. Emem Nnana Usoro are the nominees.
CBN Governor
According to Ngelale, “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 towards sustainable growth and prosperity for all.”
After President Tinubu removed Godwin Emefiele as CBN governor in June, Folashodun Shonubi served as acting governor of the top bank until Cardoso’s appointment.
