President Bola Tinubu has appointed Dr. Olayemi Cardoso as the new Governor of the Central Bank of Nigeria for a term of five years at the first instance.

Tinubu also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria for a term of five years at the first instance.

The new Deputy Governors are: Emem Usoro, Muhammad Dattijo, Philip Ikeazor and Dr. Bala Bello.

This is contained in a statement by Special Adviser to the President on Media and Publicity, Ajuri Ngelale, which states that the appointment are pending confirmation by the Senate.

Ngelale explained the 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.