Senate confirms Cardoso as CBN governor

The Senate on Tuesday confirmed Dr. Olayemi Cardoso as the substantive Governor of the Central Bank of Nigeria (CBN).

The Senate also confirmed the nomination of Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala Bello as the deputy governors of the apex bank.

The nominees during the three-hour session spoke about their educational history, careers, and plans for the country.

They promised to reform the financial system which has come under scrutiny because of the activities of the former CBN governor.

Cardoso, who said Emefiele’s mistakes would not be tolerated, promised that the CBN would operate transparent monetary policies during his tenure.

READ ALSO: CBN postpones MPC meeting as Cardoso awaits Senate confirmation

The lawmakers later put the confirmation of the nominees to a voice vote.

President Bola Tinubu had on September 15 nominated Cardoso as substantive governor of the CBN following the resignation of Godwin Emefiele from the position.

The CBN governors and his deputies are expected to serve for five years in the first instance.

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