Tinubu approves nomination of Olayemi Cardoso as new CBN Governor

PRESIDENT Bola Tinubu has approved the nomination of Olayemi Michael Cardoso to serve as the Governor of the Central Bank of Nigeria (CBN).

This is for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.

Tinubu also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN) for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate. They are:

(1) Emem Nnana Usoro

(2) Muhammad Sani Abdullahi Dattijo

(3) Philip Ikeazor

(4) Bala M. Bell

Olayemi Michael Cardoso


NIGERIAN President Bola Tinubu has approved the nomination of former Commissioner for Lagos State Ministry of Economic Planning and Budget Olayemi Micheal Cardoso as Governor of the Central Bank of Nigeria (CBN).

This was disclosed by Special Adviser to the President on Media and Publicity Ajuri Ngelale in a statement on Friday, September 15.

The approval, awaiting confirmation by the Nigerian Senate, allows Cardoso to serve for a period of five years.

The president also approved the nomination of four deputy governors, including Emem Usoro, Muhammad Sani Abdullahi Dattijo, Phillip Ikeazor and Bala M. Bello.

“In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above-listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all,” Ngelale noted.

    Tinubu had suspended former CBN Governor Godwin Emefiele on June 10 and replaced him with Deputy Governor (Operations Directorate) Folashodun Shonubi, who was to serve in an acting capacity.

    He was arrested a few hours later by the State Security Service (SSS), who had accused him of financing terrorism, fraud, money laundering and other economic crimes in 2022.

    On December 7, 2022, the SSS filed an ex-parte motion at the Federal High Court, Abuja, seeking permission to arrest, probe and detain Emefiele, though it was denied.

    Emefiele was eventually arraigned in court more than a month after his arrest and pleaded ‘not guilty’ to the charges brought against him.

    Ijeoma Opara is a journalist with The ICIR. Reach her via [email protected] or @ije_le on Twitter.

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