President Bola Tinubu has put forth the nomination of Dr. Olayemi Michael Cardoso as the prospective Governor of the Central Bank of Nigeria (CBN).
The nomination was made official through a statement by the presidential spokesperson, Ajuri Ngelale.
According to the statement, President Tinubu has given his approval for the appointment of Dr. Cardoso to lead the CBN for an initial term of five years. However, this appointment is still pending confirmation by the Nigerian Senate.
Dr. Olayemi Michael Cardoso, originally from Lagos, is set to take over the role of CBN Governor from the Acting Governor, Folashodun Shonubi, assuming he secures Senate confirmation.
The presidential statement further explained that in accordance with Section 8 (1) of the Central Bank of Nigeria Act, 2007, President Tinubu has nominated four deputy governors for the CBN. These nominations also await Senate confirmation.
President Tinubu’s decision to nominate these key positions aligns with his Renewed Hope agenda.
He anticipates that the appointees will play pivotal roles in implementing crucial reforms within the Central Bank of Nigeria.
This development follows President Tinubu’s earlier appointment of Folashodun Shonubi as the Acting Governor of the CBN. Prior to this appointment, Shonubi held the position of Deputy Governor in charge of the operations directorate at the central bank.
These changes come in the wake of the suspension of former CBN Governor Godwin Emefiele, attributed to ongoing investigations into his office and planned reforms within the financial sector of the country’s economy. Emefiele had served as CBN Governor since his appointment by former President Goodluck Jonathan in 2014.