Dr. Olayemi Michael Cardoso has been nominated by President Bola Tinubu to serve as the new Governor of the Central Bank of Nigeria (CBN).
Cardoso should serve a term of five (5) years at the first instance should the nomination be confirmed by the Nigerian Senate.
President Bola Tinubu has also 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.
The nominated deputy governors are Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
The nominations come at a time reforms are needed to lure back international partners in the restructuring of the Nigerian economy.
The Central Bank of Nigeria Act, 2007 vests power in the President of the Federal Republic of Nigeria to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN). The appointments are subject to confirmation by the Senate of the Federal Republic of Nigeria still.