President Bola Tinubu has nominated Olayemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN).
A statement on Friday by the Special Adviser to the President, Ajuri Ngelale, revealed that the nomination is "for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate."
The "directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007," the statement reads.
The president also nominated four new Deputy Governors of the CBN for a term of five (5) years pending their confirmation by the Senate.
Those nominated include: Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor and Bala M. Bello