BREAKING: Tinubu Appoints Olayemi Cardoso As New CBN Governor

President Bola Tinubu has nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

The announcement, conveyed through a press statement by Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity), revealed that Dr. Cardoso’s nomination had received the President’s approval for a five-year term, pending confirmation by the Nigerian Senate.

Ngelale noted that the appointment is in compliance with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which grants the President the authority to appoint the CBN Governor and Deputy Governors, subject to Senate confirmation.

Cardoso, an economist, takes over from Folashodun Shonubi who held the position in an acting capacity.

In addition to Cardoso’s nomination, President Tinubu has put forward the names of four individuals to serve as Deputy Governors of the CBN.

The other nominees are:

Mrs. Emem Nnana Usoro
Mr. Muhammad Sani Abdullahi Dattijo
Mr. Philip Ikeazor
Dr. Bala M. Bello