BREAKING: Senate confirms Yemi Cardoso as CBN Governor, four others as deputies

The Nigerian Senate has confirmed the appointment of Yemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

Alongside him, four other individuals have received the Senate’s approval to serve as Deputy Governors of the apex bank. This confirmation came after a thorough screening process conducted by the upper legislative body.

The newly appointed Deputy Governors are Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala Bello. Their qualifications and suitability for these crucial roles have been affirmed by the Senate.

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

Before their confirmation, the nominees had answered questions on matters related to economic and other policies.

During the screening, Cardoso promised to embrace compliance, assuring that under his leadership, the apex bank would remain apolitical.

“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,” said Cardoso who promised zero tolerance for abuse of compliance.

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

Cardoso’s confirmation as the acting CBN governor, along with four deputy nominations by President Bola Tinubu, took place a few weeks after their initial announcement.

He officially assumed his new role just last week, taking over from the previous acting governor of the CBN, Folashodun Shonubi.

These recent appointments occurred in the aftermath of the suspension and subsequent resignation of Godwin Emefiele from his position as the head of the apex bank.

Emefiele, who hails from Delta, had been in office since 2014 but faced criticism due to the naira redesign policy.

Emefiele also faced legal troubles, as he was arrested by the Department of State Services (DSS) on allegations of N6.9 billion fraud.

However, he was released on bail and is currently undergoing a trial for these charges.