President Bola Tinubu has approved the nomination Olayemi 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 Senate.

The approval, according to Tinubu, 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 Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.

The President has also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five years at the first instance, pending their confirmation by the Nigerian Senate, as listed below: Mrs. Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala M. Bello.

A statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale, explained that Tinubu has further directed the nominees to implement critical reforms at the CBN which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.

In 1999 upon return to civilian democratic rule, Cardoso was appointed by Tinubu as his first commissioner for economic planning and budget for Lagos State.

It would be recalled that Tinubu had similarly appointed two of his commissioners, Olawale Edun and Dele Alake, when he served as governor of Lagos State Minister of Finance and coordinating Minister of the economy, and Minister of Solid Minerals respectively.

The Guardian/NewsScroll