Breaking News: Tinubu appointes Cardoso as new CBN governor

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).

According to a press statement by the 

Special Adviser to the President
(Media & Publicity), Chief Ajuri Ngelale

said Cardoso will serve  for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.

"This directive is 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 President has also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate.

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