BREAKING: President Tinubu Appoints Yemi Cardoso As News CBN Governor

President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

VerseNews reports that Dr. Cardoso’s appointment is for a term of five (5) years initially, pending confirmation by the Nigerian Senate.

This appointment aligns with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which grants the President the authority to appoint the CBN Governor and four Deputy Governors, subject to Senate confirmation.

Additionally, President Tinubu has approved the nomination of four new Deputy Governors for the CBN, each with an initial term of five (5) years, pending Senate confirmation.

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

The President expects the nominated individuals to implement crucial reforms at the CBN that will enhance the confidence of both Nigerians and international partners in the restructuring of Nigeria’s economy, aiming for sustainable growth and prosperity for all.