Friday, 19 July, 2024

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Breaking: Senate confirms Cardoso, as CBN Governor


The Senate has confirmed President Bola Tinubu’s nominees for the position of Governor of the Central Bank of Nigeria (CBN) and deputy governors of the apex financial institution.

The nominees are Mr. Olayemi Cardoso for appointment as Governor of CBN.

Others are Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor and Bala M. Bello, as deputy governors.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Abdullahi Gumei, led the nominees into the Senate chamber shortly after the senators emerged from a lengthy close door session.

In his opening address, Cardoso enumerated the challenges facing the CBN and how to address them.

He listed the issues of corporate governance, diminish institution, autonomy of the institution, re-focussing of  CBN back to core functions, foreign currency management, ways of means, lack of clarity between fiscal and monetary policy, inflation and price stability policy. 

He also noted the current crisis in the foreign exchange market and role the CBN should play to address them.

He spoke on the element of economic growth — size matters, fiscal reform to achieve $1 trillion GDP in eight years. 

Credit: This Day

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