Tinubu recommends Yemi Cardoso As Governor of CBN

Olayemi Cardoso has been proposed by President Bola Tinubu as the future governor of the Central Bank of Nigeria (CBN).

Olayemi Cardoso has been proposed by President Bola Tinubu as the future governor of the Central Bank of Nigeria (CBN).

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Ajuri Ngelale, the presidential spokesperson, said as much in a statement.

“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,” the statement on Friday said.

In addition to the Cardoso, who was born in Lagos, Tinubu also named four deputy governors for the top bank.

According to Ajuri, the action was taken “in compliance with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which grants 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.”

According to him, Tinubu’s Renewed Hope programme is in line with the directive, and the Nigerian president expects them to “successfully implement critical reforms at the Central Bank of Nigeria.”