President Bola Tinubu has taken a significant step in shaping the future of Nigeria’s financial landscape by nominating Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).
This announcement, made today by Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity), marks a pivotal moment in the implementation of President Tinubu’s Renewed Hope agenda.
Dr. Olayemi Michael Cardoso, a distinguished economist and financial expert, is set to lead the CBN for a term of five years, pending confirmation by the Nigerian Senate. His appointment aligns with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which empowers the President to appoint the Governor and Deputy Governors of the CBN, subject to Senate confirmation.
In addition to Dr. Cardoso’s nomination, President Tinubu has also approved the selection of four Deputy Governors for the CBN, each slated for a five-year term, subject to Senate confirmation.
The nominees for these key roles are:
- Mrs. Emem Nnana Usoro
- Mr. Muhammad Sani Abdullahi Dattijo
- Mr. Philip Ikeazor
- Dr. Bala M. Bello
The President’s vision for the Central Bank of Nigeria, as outlined in his Renewed Hope agenda, focuses on implementing critical reforms that will bolster confidence among Nigerians and international partners. These reforms are expected to catalyze the restructuring of the Nigerian economy, propelling it towards sustainable growth and prosperity for all.
Dr. Cardoso, a seasoned professional with a wealth of experience in economics and finance, is expected to play a pivotal role in steering the CBN toward achieving these objectives. His leadership will be complemented by the diverse skills and expertise of the newly nominated Deputy Governors.
The nominations will now be subject to the scrutiny and approval of the Nigerian Senate. If confirmed, these appointments will usher in a new era of financial stewardship and economic management in Nigeria.
President Tinubu’s commitment to charting a path of prosperity and economic stability for the nation is reflected in these strategic appointments. Nigerians and international stakeholders will be closely watching as the nominees navigate the Senate confirmation process and, subsequently, take up their roles in shaping Nigeria’s economic future.
As President Tinubu’s administration continues to take shape, the nation anticipates further announcements and initiatives aimed at realizing the goals of the Renewed Hope agenda. The President’s vision for a prosperous Nigeria remains steadfast, and these appointments represent a significant step forward in that journey.
Central Bank of Nigeria Postpones 293rd Monetary Policy Committee Meeting
The Central Bank of Nigeria (CBN) has announced the postponement of its 293rd Monetary Policy Committee (MPC) meeting, originally scheduled for September 25th and 26th, 2023.
Dr. Isa AbdulMumin, the bank’s Director of Corporate Communications, released a statement on Thursday confirming the decision.
In the statement, Dr. AbdulMumin stated, “The Monetary Policy Committee of the Central Bank of Nigeria has deferred its 293rd meeting, which was initially planned for Monday and Tuesday, September 25th and 26th, 2023, respectively. A new date will be communicated in due course. We regret any inconvenience this change may cause our stakeholders and the general public.”
While the CBN did not provide an official reason for the postponement, some industry experts suggest it may be related to the pending approvals for the newly appointed governor and deputy governors of the bank.
President Bola Tinubu recently nominated Yemi Cardoso as the potential head of the CBN. Additionally, Tinubu has endorsed the nominations of four new deputy governors for the apex bank, who are expected to serve for an initial term of five years, pending confirmation by the Senate.
The nominated deputy governors are Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello. However, the appointment of the CBN governor is contingent upon Senate confirmation, which is currently on a yearly recess.
The CBN assures stakeholders and the public that the rescheduled MPC meeting date will be communicated promptly as soon as it is confirmed.
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