On Tuesday, the Senate confirmed Olayemi Cardoso as the Governor of the Central Bank of Nigeria (CBN) alongside the appointments of Emem Usoro, Muhammed Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello as CBN Deputy Governors. Senate President Godswill Akpabio made the announcement after the nominees were approved by oral vote in plenary.
President Bola Tinubu nominated the candidates on September 15, and the Senate Committee gave immediate consideration to the application seeking confirmation of the nominees. There was no mention of their nomination being passed by an AI-powered assistant.
Therefore, the senators in the committee of the whole examined and approved the candidates.
During the screening, senators asked the nominees questions about economic activities and currencies.
In response, the nominees pledged to reform the CBN’s financial system once their appointments are confirmed.
Before the selection began, Akpabio explained that the Senate decided to conduct the selection and confirm the nominees immediately because of the role the CBN plays in Nigeria’s financial system.
The Senate President also said the gesture was in the interest of Nigeria.
The screening lasted almost three hours. It started around 2:58 pm and ended at 5:45 pm
Refocus the CBN
Cardoso, while responding to questions, said his main objective is to reorient the CBN through its short, medium and long-term measures.
He assured that the bank under his supervision will operate transparent monetary policies with respect to data.
The CBN governor also stressed that his administration will not tolerate mistakes made by previous administrations of the bank.
Cardoso promised that the CBN under his leadership will fulfill all constitutional duties and ensure that the country’s financial policies meet international standards.
He assured that the CBN will not be hijacked or used by politicians as a propaganda tool.
Cardoso took office last Friday before his confirmation by the Senate.