Senate confirms Cardoso as CBN governor

The senate on Tuesday confirmed Olayemi Cardoso as the substantive governor of the Central Bank of Nigeria (CBN).

The upper legislative chamber also confirmed Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor and Bala Bello, as deputy governors of the apex bank.

The nominees were screened after they spoke about their academic, and professional backgrounds and plans for the country.

The country’s inflation and unstable foreign exchange were some of the topics the nominees fielded questions on.

Cardoso and the deputy governor nominees – who have been in office in an acting capacity – said they would work on immediate, medium and long terms to revamp the country’s economy.

After fielding questions for more than one hour, the senate put their nominations to a vote.

Cardoso was nominated as CBN’s governor by President Bola Tinubu on September 15.

Godwin Emefiele, immediate former governor of the CBN, and Cardoso’s predecessor, is facing charges bordering on fraud.

Emefiele is thought to have worked against Tinubu before the presidential election.