Tinubu nominates Dr. Cardoso as CBN Governor, names Deputies

Ojochenemi Onje-JamesSeptember 15, 20232 min

Ngelale said Cardos’s nomination as CBN Governor reflects President Tinubu’s commitment to implementing crucial reforms at the Apex Bank.


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

News of the nomination is contained in a statement issued by the Special Adviser to the President on Media & Publicity, Ajuri Ngelale, on Friday in Abuja.

If confirmed by the Senate, Dr. Cardoso will take over from the Acting Governor, Folashodun Shonubu, and head the apex bank for a term of five years.

“President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.”

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In addition to Cardoso’s nomination, the President also put forth four candidates for the position of Deputy Governors of the CBN, “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.”

The nominees are, Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello, and their appointments are also subject to Senate confirmation and are for an initial term of five years.

According to Ngelale, “These nominations reflect President Tinubu’s commitment to implementing crucial reforms at the CBN.

“The aim is to build confidence among both Nigerians and international partners, fostering economic restructuring for sustainable growth and prosperity in line with his Renewed Hope agenda.

“This development marks a pivotal moment in Nigeria’s economic landscape, awaiting Senate confirmation to set the stage for these leaders to steer the country’s financial ship.”

The nomination follows the suspension of the immediate past Governor, Godwin Emefiele, by President Tinubu.

The embattled Ex-CBN boss was consequently, arrested by the Department of State Services (DSS), on 10 June, “for investigative reasons.”


Ojochenemi Onje-James

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