Dr. Cardoso, a former Chairman of Citi Nigeria and Commissioner for Economic Planning and Budget in Lagos is the 12th substantive Governor of the Central Bank of Nigeria since inception.
The Senate has confirmed the aapointment of Olayemi Cardoso and four others as Governor and Deputy Governors of the Central Bank of Nigeria (CBN).
The screening and confirmation of the nominees took place during Tuesday’s plenary shortly after the lawmakers resumed from their annual recess.
It is noteworthy that President Bola Ahmed Tinubu had sent the list of the nominees to the Senate for screening and confirmation in accordance with Section 10(3)(a) of the Central Bank of Nigeria (Establishment) Act, 2007. The list of nominees sent to the Senate for screening included Olayemi Cardoso (Governor), Emem Usoro (Deputy Governor), Muhammad Abdullahi-Dattijo (Deputy Governor), Philip Ikeazor (Deputy Governor) and Bala Bello (Deputy Governor).
The Senate Leader, Senator Opeyemi Bamidele (Ekiti Central), moved that the Senate consider the request of the President and allow the nominees to come into the Red Chamber. Thereafter, the Senate dissolved into the Committee of the Whole to conduct the screening process.
The first nominee who was screened was Olayemi Cardoso, who had last Friday resumed as Acting governor pending his screening and expected confirmation by the Senate.
“We need to address the issue of corporate governance. We need to refocus CBN back to its core functions and address inflation, gain access to foreign exchange rates and this requires an independent review. What is important to all of us is economic growth,” Cardoso told the Senators.
Shortly after his screening, the Senate screened the other four nominees for Deputy Governors of the CBN following a brief introduction of themselves and responses to questions thrown at them.
The Senate wrapped up the exercise at about 5:30 p.m. with the screening and approval of all the nominees thereafter.