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

This announcement was made by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, in a statement on Friday.

The statement mentioned that Cardoso will initially serve for a period of five (5) years, subject to confirmation by the Nigerian Senate.

President Tinubu clarified that this decision is in line with Section 8 (1) of the Central Bank of Nigeria Act, 2007.

This section grants the President the authority to appoint the Governor and Four (4) Deputy Governors for the CBN, pending confirmation by the Nigerian Senate.

Additionally, President Bola Tinubu has also approved the nomination of four new Deputy Governors for the Central Bank of Nigeria (CBN).

They will serve for a term of five (5) years, subject to confirmation by the Nigerian Senate.

They are;

(1) Mrs. Emem Nnana Usoro

(2) Mr. Muhammad Sani Abdullahi Dattijo

(3) Mr. Philip Ikeazor

(4) 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.