Dr. Olayemi Michael Cardoso has been announced by President Bola Tinubu to be the new Governor of the Central Bank of Nigeria (CBN).
In a news release issued by the presidential spokesperson, Ajuri Ngelale, on Friday night, Carsodoso would initially hold office for a term of five (5) years, subject to Senate approval in Nigeria.
According to Section 8 (1) of the Central Bank of Nigeria Act, 2007, the President of the Federal Republic of Nigeria has the power to nominate 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.
“Furthermore, President Bola Tinubu has 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,” he stated.
The new Deputy Governors include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
“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 toward sustainable growth and prosperity for all,” Ngelale stated.
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