BREAKING: Tinubu names Cardoso as new CBN governor

In a major announcement President Bola Tinubu has designated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN). The appointment subject to confirmation by the Nigerian Senate is set for a initial term of five years. This decision aligns with Section 8 (1) of the Central Bank of Nigeria Act 2007 which grants the President the authority to nominate the Governor and four Deputy Governors of the CBN.

President Tinubu has also endorsed the appointment of four new Deputy Governors for the CBN. The nominees Mrs. Emem Nnana Usoro Mr. Muhammad Sani Abdullahi Dattijo Mr. Philip Ikeazor and Dr. Bala M. Bello will also await confirmation by the Nigerian Senate for a term of five years.

The President’s renewed focus on their “Hope agenda” aims at implementing crucial reforms within the Central Bank of Nigeria. These reforms are anticipated to foster confidence among Nigerians and international partners while facilitating sustainable economic growth and prosperity for all.

This announcement signifies President Tinubu’s commitment to shaping Nigeria’s economic landscape and ensuring the country’s financial institutions are equipped to meet the challenges of the future. As the newly appointed leaders take on their roles Nigerians eagerly anticipate the positive changes and initiatives they will bring to the nation’s banking sector.