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President Tinubu Nominates Dr. Cardoso as New CBN Governor



Cardoso CBN

President Bola Tinubu announced his nominations for key positions within the Central Bank of Nigeria (CBN), marking a pivotal step towards reshaping the nation’s financial landscape in line with his “Renewed Hope” agenda.

These nominations, which include the appointment of Dr. Olayemi Michael Cardoso as the new Governor of the CBN, are subject to confirmation by the Nigerian Senate and come as part of President Tinubu’s vision to revitalize the Nigerian economy.

Dr. Cardoso, a seasoned economist with a wealth of experience in both domestic and international financial sectors, has been nominated to lead the CBN for an initial term of five years.

His appointment aligns with Section 8(1) of the Central Bank of Nigeria Act, 2007, which confers upon the President the authority to appoint the Governor and Deputy Governors of the CBN, subject to Senate confirmation.

Dr. Cardoso’s nomination is expected to bring stability and expertise to the helm of the nation’s central bank, a crucial component in the economic rejuvenation plan.

In addition to the nomination of Dr. Cardoso, President Tinubu has also put forward four individuals for the positions of Deputy Governors at the CBN.

The nominees include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

Each of these candidates has a distinguished track record in various sectors of the economy, promising a diverse and capable team to support Dr. Cardoso in steering the nation’s monetary policies.

These appointments have been made with a particular focus on advancing President Tinubu’s Renewed Hope agenda, which seeks to drive critical reforms within the CBN.

These reforms aim to bolster the confidence of both Nigerians and international partners in the ongoing efforts to restructure the Nigerian economy towards sustainable growth and prosperity for all.

Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, emphasized the importance of these appointments, stating, “President Tinubu is committed to revitalizing the Nigerian economy, and these nominations reflect his determination to ensure that the CBN plays a pivotal role in this transformative journey. We are confident that these nominees have the expertise and vision necessary to implement the reforms needed to achieve our economic goals.”

The nominations will now undergo the Senate’s rigorous screening process, during which the candidates’ qualifications, experience, and commitment to President Tinubu’s economic vision will be thoroughly assessed.

Once confirmed, the new CBN Governor and Deputy Governors will assume their roles, marking the beginning of a new chapter in Nigeria’s economic history.

With these nominations, President Tinubu has taken a significant step towards realizing his economic agenda, one that has the potential to shape the future prosperity of Nigeria and solidify the nation’s position on the global economic stage.

The nation now eagerly awaits the Senate’s deliberations and eventual confirmation of these nominees as they embark on their mission to lead the Central Bank of Nigeria into a new era of economic growth and stability.

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