Tinubu Removes Emefiele As CBN Governor, Appoints Olayemi Cardoso

Mr. Olayemi Cardoso has been nominated by President Bola Tinubu for appointment as the Central Bank of Nigeria’s (CBN) substantive governor.

Ajuri Ngelale, the President’s special adviser on media and publicity, confirmed this in a statement released on Friday in Abuja.

The President also named four new deputy governors to the top bank.

Emem Nnana Usoro, Philip Ikeazor, Muhammad Sani Abdullahi Dattijo, and Bala M. Bello are those people.

Three months after the president had removed Godwin Emefiele as governor of the Central Bank of Nigeria, Cardoso was nominated.

Emefiele, who was suspended by the president on June 9, is currently standing trial for alleged N6.9 billion fraud at the Federal Capital Territory (FCT) High Court.

Cardoso, according to the statement, is expected to serve for a term of five years after his confirmation by the Senate.

The new CBN governor previously served as commissioner for economic planning and budget in Lagos State.

He is also the founding chairman of the Ehingbeti Summit, an economic forum put together by the Lagos State government.

The statement read: “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.

“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.”