Dr. Olayemi Michael Cardoso has been appointed by President Bola Tinubu for the position of the Central Bank of Nigeria (CBN) as its new governor, initially for a term of five (5) years, pending approval.
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. This directive is in accordance with that provision.
In addition, President Bola Tinubu has given the go-ahead for the appointment of the following four new Deputy Governors of the Central Bank of Nigeria (CBN), each of whom would serve for a term of five (5) years at the outset, pending approval by the Nigerian Senate:
Mrs. Emem Nnana Usoro is one.
Mr. Muhammad Sani Abdullahi Dattijo, number 2.
(3) Philip Ikeazor, Jr.
(4) Bala M. Bello, Ph.D.
President Bola Tinubu expects the aforementioned nominees to successfully carry out crucial reforms at the Central Bank of Nigeria in line with his Renewed Hope agenda. This will increase the confidence of Nigerians and foreign partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.
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