President Bola Ahmed Tinubu has appointed a new management team for the Central Bank of Nigeria (CBN).

He set the tone for the planned re-organisation of the apex bank yesterday by nominating ace banker and former Chairman of Citibank Nigeria, Dr. Olayemi Michael Cardoso, as incoming CBN governor.

Nominated as deputy governors of the apex bank are Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

The new management team will replace the one headed by the suspended governor of the CBN, Godwin Emefiele.

News of the appointment was broken by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, who said in a statement that Cardoso was nominated to serve for a term of five years at the first instance, pending his confirmation by the Senate.

Ngegale said the appointment conformed 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.”

Tinubu, according to him, charged the nominees to “use their time to effect the needed reforms at the CBN, to revive both the Nigerian public and global partners’ confidence.”

“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,” the President’s spokesman said.

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