By Nicolas Adekeye,

President Tinubu
President Bola Tinubu has appointed Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN), following the removal of Godwin Emefiele. The new Governor is expected to serve for five years, subject to confirmation by the Nigerian Senate.


In addition, four Deputy Governors have also been appointed, namely Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello. Their appointments are also subject to confirmation by the Nigerian Senate.


These appointments were made in line with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which gives the President the authority to appoint the Governor and Deputy Governors of the CBN, subject to confirmation by the Senate.

President Tinubu's Renewed Hope agenda expects the new CBN leaders to successfully implement critical reforms that will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy towards sustainable growth and prosperity for all.

The CBN plays a crucial role in Nigeria's monetary and financial system, overseeing the issuance and management of the country's currency, regulating and supervising banks, and implementing monetary policies to achieve stability and growth. This new leadership is expected to bring fresh perspectives and ideas towards achieving these goals.

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