Senate Confirms Appointment Of CBN Governor-Nominee Cardoso, Deputies

The Senate of the Federal Republic of Nigeria has confirmed the appointment of Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN) and four others as Deputy Governors of the apex bank. The confirmation followed the screening of the nominees by the Senate Committee on Banking, Insurance, and Other Financial Institutions on Tuesday, September 26, 2023.

Dr. Cardoso had been acting as the CBN Governor since then, pending his confirmation by the Senate.

The four Deputy Governors confirmed by the Senate are Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello. They will join forces with Dr. Cardoso to steer the affairs of the CBN for the next five years.

The Senate also scheduled the screening of two ministerial nominees, Dr. Jamila Bio Ibrahim and Mr. Ayodele Olawande, respectively designated as Minister of Youth and Minister of State for Youth, for October 3, 2023. The duo were appointed by President Tinubu while the National Assembly was on break.

The Senate Leader, Senator Opeyemi Bamidele, who announced the confirmation of the CBN nominees, congratulated them and urged them to discharge their duties with professionalism and integrity. He also expressed confidence in the ability of Dr. Cardoso to lead the CBN and implement the monetary policies of the government.

Dr. Cardoso, in his remarks, thanked the Senate for the confirmation and pledged to work with the other Deputy Governors and the CBN staff to achieve the objectives of the bank. He also assured the public that the CBN would continue to maintain price stability, support economic growth, and safeguard the financial system.