Tinubu shakes up Central Bank, names Dr. Olayemi Cardoso as new Governor

President Bola Tinubu has given his stamp of approval to the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN).

This appointment, spanning an initial term of five years, awaits confirmation by the Nigerian Senate.

According to a statement by the Special Adviser Media and Publicity to the President, Chief Ajuri Ngelale, this directive is in conformity with 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 confirmation by the Senate of the Federal Republic of Nigeria.

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In addition to the Governor, President Tinubu has endorsed four new Deputy Governors of the Central Bank of Nigeria, each slated for an initial five-year term, pending confirmation by the Nigerian Senate. The nominees are:

(1) Mrs. Emem Nnana Usoro
(2) Mr. Muhammad Sani Abdullahi Dattijo
(3) Mr. Philip Ikeazor
(4) Dr. Bala M. Bello

President Bola Tinubu’s Renewed Hope agenda underscores his expectations for these nominees. He anticipates that they will spearhead crucial reforms within the Central Bank of Nigeria.

These reforms are designed to enhance the confidence of both Nigerians and international partners in the revitalization and restructuring of the Nigerian economy, fostering sustainable growth and prosperity for all.

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