President Bola Tinubu has officially nominated Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN). Dr. Cardoso’s nomination is slated for a five-year term in the first instance, pending confirmation by the Nigerian Senate.
This announcement falls in line 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 approval by the Senate.
In addition to the nomination of Dr. Cardoso as the CBN Governor, President Tinubu has also put forward four individuals to serve as Deputy Governors at the Central Bank of Nigeria. Their respective nominations are also for a five-year term in the first instance and await confirmation by the Nigerian Senate. The nominees for the Deputy Governor positions are as follows:
- Mrs. Emem Nnana Usoro
- Mr. Muhammad Sani Abdullahi Dattijo
- Mr. Philip Ikeazor
- Dr. Bala M. Bello
These nominations are a crucial part of President Tinubu’s Renewed Hope agenda, and they signal the administration’s commitment to implementing critical reforms within the Central Bank of Nigeria. These reforms are intended to enhance the confidence of both Nigerians and international partners in the ongoing efforts to restructure the Nigerian economy for sustainable growth and prosperity for all.
The stage is now set for the Senate to carry out its constitutional duty of confirming these nominees, a process that will play a pivotal role in shaping the future of Nigeria’s financial sector. President Tinubu’s choices reflect his vision for a resilient and thriving Nigerian economy, and the nation eagerly awaits the Senate’s deliberations and subsequent decisions regarding these nominations.