President Bola Tinubu Friday nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN), for a term of five years at the first instance.
Dr. Cardoso was at various times Chairman of CITIBANK and also served as Commissioner for Budget and National Planning during Tinubu’s reign as Governor of Lagos State (1999 – 2007).
Cardoso replaces the suspended Godwin Emefiele.
Thr embattled Emefiele has been on suspension as CBN Governor since June 9, 2023.
wCardoso’s name will be forwarded to Senate for confirmation in line with provisions of the 1999 constitution of the Federal Republic of Nigeria (as amended).
The appointment of Dr. Cardoso is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007 which vests in the presidents 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 president also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five years at the first instance subject to the confirmation of their appointment by the Senate.
The new CBN Deputy Governors include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
