Tinubu nominates Yemi Cardoso as CBN Governor, names Four Deputies

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

According to Ajuri Ngelale, a spokesperson for the president, if confirmed by the Senate, Cardoso will succeed Folashodun Shonubi as acting governor of the CBN.

Ngelale revealed in a statement on Friday, “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.”

In addition to the Cardoso, a native of Lagos, Tinubu selected four deputy governors 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”.

According to Ngelale, Tinubu expects the nominees to “successfully implement critical reforms at the Central Bank of Nigeria” in keeping with his Renewed Hope agenda.

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