Tinubu finally gets rid of Emefiele as CBN governor, appoints Olayemi Cardoso

President Bola Tinubu has nominated Mr. Olayemi Cardoso as the substantive governor of the Central Bank of Nigeria (CBN).

The Special Adviser on Media and Publicity to the President, Ajuri Ngelale, who confirmed the development in a statement on Friday in Abuja, said his principal also appointed four new deputy governors into the apex bank.

These are – Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala M. Bello.

The nomination of Cardoso came three months after the president suspended Godwin Emefiele as CBN governor.

Emefiele, who was suspended by the president on June 9, is currently standing trial for alleged N6.9 billion fraud at the Federal Capital Territory (FCT) High Court.

Cardoso, according to the statement, is expected to serve for a term of five years after his confirmation by the Senate.

READ ALSO: DSS arrests Nigeria’s central bank governor, Godwin Emefiele

The new CBN governor previously served as commissioner for economic planning and budget in Lagos State.

He is also the founding chairman of the Ehingbeti Summit, an economic forum put together by the Lagos State government.

The statement read: “This directive is in conformity 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 (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.

“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.”

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