Senate Confirms Cardoso As CBN Governor

Why Cardoso Sacked Eight CBN Directors, 32 Others

The Nigerian Senate, on Tuesday, confirmed the nomination of Olayemi Cardoso, as the substantive Governor of the Central Bank of Nigeria (CBN).

The Senate also confirmed the nomination of four deputy governor nominees.

BrandSpur Nigeria reports that the deputy governors confirmed include Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala Bello.

Their confirmation as Governor and Deputy Governors of the Apex bank was made known by the Senate President, Godswill Akpabio.

“The nomination of Olayemi Cardoso is hereby confirmed as governor of the Central Bank of Nigeria (CBN),” Akpabio said.

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

While answering his questions, the new CBN governor promised to pull back from aggressive development finance, ensure a culture of transparency, compliance and collaboration and also embark on zero tolerance for breach of CBN Act.

According to him, his immediate priority is to work out ways to aggressively offset huge FX obligations as part of measures to attack the current naira downturn which has become a huge burden for the economy. Transactions