Godwin Emefiele, the suspended Central Bank of Nigeria (CBN) Governor, later detained by state police and charged with procurement fraud, resigned last month, according to a report by Reuters.
This effectively cleared the way for President Bola Tinubu to nominate Dr. Olayemi Michael Cardoso to replace him.
According to a press statement by presidential spokesman, Ajuri Ngelale, on Friday evening, Cardoso will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.
“Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate,” he stated.
The new Deputy Governors include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
The nomination of Cardoso to serve as the new Governor of the CBN is expected to lead to improved synergy between monetary and fiscal policy, among others, according to analysts MoneyCentral spoke to.
