Senate Confirms Nomination of Cardoso as CBN Governor, Deputies - The Top Society

Senate Confirms Nomination of Cardoso as CBN Governor, Deputies


The Senate has given its approval to Yemi Cardoso‘s appointment as the Governor of the Central Bank of Nigeria (CBN), along with four others who have been confirmed as deputy governors of the CBN.

This confirmation took place on Tuesday after they underwent screening by the upper legislative body. The confirmed deputy governors include Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala Bello.

“The nomination of Olayemi Cardoso is hereby confirmed as governor of the Central Bank of Nigeria (CBN),” Senate President Godswill Akpabio said.

Prior to their confirmation, the nominees had responded to inquiries concerning economic and other policy matters.

During the screening process, Cardoso pledged to uphold compliance, ensuring that under his leadership, the central bank would maintain a non-political stance.


“I believe that the Central Bank under our watch will have no choice but to embrace a culture of compliance,” he said.

“We will not wait for oversight to come and tell us what to do. We will ensure that by the time the system is passing through us, we catch it and we deal with it,” Cardoso, who vowed to have zero tolerance for compliance violations, made this commitment.

“That is a cultural shift, a change in mindset, but we will make sure it happens,” the former chairman of Citibank Nigeria provided assurance.

Cardoso’s confirmation occurred several weeks after President Bola Tinubu nominated him as the interim Governor of the Central Bank of Nigeria (CBN), along with four individuals to serve as deputy governors.

He officially assumed the role last week, taking over from the then-acting CBN Governor, Folashodun Shonubi.

These recent appointments came in the wake of the suspension and subsequent resignation of Godwin Emefiele as the head of the apex bank. Emefiele, who began his tenure in 2014 but faced criticism due to the naira redesign policy, was later arrested by the Department of State Services (DSS) but was subsequently released on bail and is currently facing trial on charges of alleged N6.9 billion fraud.

Don’t miss out on: JUST IN: Cardoso Appointed as Acting CBN Governor


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