September 16, 2023 NewsOrient

President Bola Ahmed Tinubu has nominated Olayemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

The news of Cardoso’s appointment was contained in a statement by the presidential spokesman, Ajuri Ngelale on Friday.

Ngelale said: “President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.”

NewsOrient reports that besides the Lagos-born Cardoso, Tinubu appointed four Deputy Governors for the apex bank.

According to Ajuri, the move is in “conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the 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”.

He said the directive is in line with Tinubu’s Renewed Hope agenda with the Nigerian leader expecting them to “successfully implement critical reforms at the Central Bank of Nigeria.”

It would be recalled that some months back, Tinubu had named another person, Folashodun Shonubi, as the CBN Acting Governor.

The current leadership changes in CBN began with Godwin Emefiele’s suspension as the Governor of the CBN.

NewsOrient