Tinubu appoints Michael Cardoso as CBN Governor

President Bola Tinubu has designated Dr. Olayemi Michael Cardoso as the newly appointed Governor of the Central Bank of Nigeria (CBN). Cardoso’s initial term is set for five years, awaiting confirmation by the Nigerian Senate.

The announcement was made by Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, in a statement released on Friday.

He said the directive conforms 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.

President Tinubu also approved the nomination of four new deputy governors of the apex bank for a term of five years in the first instance, pending their confirmation by the Senate.

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