Senate Confirms Dr. Olayemi Cardoso as CBN Governor Alongside Deputy Governors

The Senate, led by Godswill Akpabio, has officially approved the appointment of Dr. Olayemi Cardoso as the Governor of the Central Bank of Nigeria (CBN). This confirmation came following a rigorous screening process that included four other nominees for CBN Deputy Governors, who will oversee the apex bank’s operations for the next five years.

The newly appointed Deputy Governors are Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Dr. Bala M. Bello. Senate President Godswill Akpabio announced the confirmation: “The nomination of Olayemi Cardoso is at this moment confirmed as governor of the Central Bank of Nigeria (CBN).” Also Read: https://legalattorneyblog.com/2023/09/14/dr-olayemi-cardoso-assumes-the-role-of-acting-governor-of-the-central-bank-of-nigeria-cbn-along-with-new-deputy-governors/

During the screening process, the nominees addressed various questions related to economic and monetary policies. Dr. Cardoso, in particular, emphasized his commitment to compliance and assured that, under his leadership, the CBN would maintain its apolitical stance.

He remarked, “I believe that the Central Bank under our watch will have no choice but to embrace a culture of compliance. We will not wait for oversight to come and tell us what to do. We will ensure that by the time the system passes through us, we catch and deal with it. We will have zero tolerance for compliance abuse. This represents a cultural shift and a change in mindset, but we are determined to make it a reality.”

It’s worth noting that Dr. Cardoso assumed the role of acting CBN governor last week pending his Senate screening and expected confirmation. Read Also: https://legalattorneyblog.com/2023/09/10/new-central-bank-governor-advised-to-chart-a-different-course/

In addition to confirming Dr. Cardoso and the Deputy Governors, the Senate has also scheduled the screening of two more ministerial nominees appointed by President Bola Tinubu for Tuesday, October 3, 2023. During the National Assembly’s break, President Tinubu appointed Dr. Jamila Ibrahim and Ayodele Olawande as the Minister of Youths and Minister of State for Youths, respectively.

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