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December 2, 2023

Senate confirms Cardoso as CBN Governor

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

Other nominees who were confirmed as Deputies to Olayemi are: Emem Usoro, Muhammad Abdullahi-Dattijo Philip Ikeazor and Bala Bello.

Their screening commenced after hours of closed-door meeting which was presided by the Senate President, Godswill Akpabío, having resumed from a two month annual recess.

The exchange rate between the Naira and other currencies, especially the United States Dollars, dominated the lawmakers’ questions.

The lawmakers lamented economic woes, particularly the free fall of the Naira.

Senators Jimoh Ibrahim, Adams Oshiomhole, Elisha Abbo expressed their discontent and urged the new CBN team to “look outside the box to see a way of strengthening the Naira.”

Recall that last week, Cardoso resumed as the CBN governor in an acting capacity pending his screening and expected confirmation by the Senate.

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