President Bola Tinubu has appointed Dr. Olayemi Cardoso as the new Governor of the Central Bank of Nigeria, replacing Folashodun Shonubi, who had been serving as acting governor since the suspension of Godwin Emefiele.
The President also nominated four deputy governors for the apex bank, in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007. These nominations are subject to confirmation by the Nigerian Senate.
The appointed deputy governors are Mrs. Emem Usoro, Mr. Muhammad Dattijo, Mr. Philip Ikeazor, and Dr. Bala Bello. These nominations are initially for a term of five years, pending Senate confirmation.
President Tinubu’s expectation is that these nominees will work towards implementing critical reforms within the CBN. These reforms aim to boost the confidence of Nigerians and international partners, ultimately leading to the restructuring of the economy for sustainable growth and prosperity.
It’s important to note that Godwin Emefiele had been suspended by President Tinubu on June 9, with immediate effect. This action was taken as part of ongoing investigations within the office of the CBN governor and in line with planned reforms in the financial sector.
At the time of this report, the fate of the three remaining deputy governors of the CBN, namely Mrs. Aisha Ahmad, Mr. Edward Adamu, and Dr. Kingsley Obiora, remains uncertain.
