BREAKING NEWS: Tinubu Nominates Yemi Cardoso as CBN Governor

President Bola Tinubu has officially put forward Olayemi Cardoso as the nominee for the position of Governor at the Central Bank of Nigeria (CBN).

The nomination was announced by the presidential spokesperson, Ajuri Ngelale, in a statement.

President Bola Tinubu has endorsed Dr. Olayemi Michael Cardoso to assume the role of the new Governor of the Central Bank of Nigeria (CBN) for an initial term of five (5) years, pending confirmation by the Nigerian Senate," the statement issued on Friday read.

In addition to the appointment of Lagos-native Cardoso, Tinubu has named four deputy governors for the CBN.

Ajuri clarified that this action aligns with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which grants 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 Senate confirmation.

He further emphasized that this directive corresponds with Tinubu's Renewed Hope agenda, with the President expecting them to "effectively implement crucial reforms within the Central Bank of Nigeria".