Tinubu sacks CBN management

…Nominates new Governor, others for Senate confirmation

From Uche Usim, Abuja

Amid ongoing investigations into the activities of the Central Bank of Nigeria (CBN), President Bola Tinubu, on Friday, nominated Dr. Olayemi Michael Cardoso to serve as the new Governor of the apex bank for a term of five years at the first instance, pending his confirmation by the Nigerian Senate.

A statement from the presidency says the move draws strength from 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.

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 years at the first instance, pending their confirmation by the Nigerian Senate.

They are; Mrs. Emem Nnana Usoro; Mr. Muhammad Sani Abdullahi Dattijo; Mr. Philip Ikeazor; Dr. Bala M. Bello.

“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, Ajuri Ngelale said in a statement.

The suspended Governor of CBN, Mr Godwin Emefiele is still being detained at the facility of the Department of State Services (DSS), just as his deputies are being investigated for various infractions.