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

The nomination, which is subject to confirmation by the Nigerian Senate, is in accordance with Section 8 (1) of the Central Bank of Nigeria Act, 2007. Dr. Cardoso is set to serve a term of five years initially.

The announcement was made in a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale.

According to Ngelale, President Tinubu’s decision also extends to the appointment of four Deputy Governors of the CBN, who will serve for an initial term of five 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.

President Tinubu’s choice of candidates for these crucial roles aligns with his “Renewed Hope” agenda, emphasizing the need for critical reforms within the CBN to boost the confidence of Nigerians and international partners.

The statement read, “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.”