The Senate has officially confirmed Mr. Olayemi Cardoso as the Governor of the Central Bank of Nigeria (CBN), along with several other nominees.
The confirmation came following a closed door meeting chaired by Senate President Godswill Obot Akpabío, who presided over the session. This session marked the Senate’s resumption from a two month annual recess.
In addition to Mr. Olayemi Cardoso, the Senate also confirmed the following nominees as deputies to the CBN Governor:
During their screening process, members of the Senate focused on various economic concerns, with particular emphasis on the exchange rate between the Naira and other currencies, especially the United States Dollar.
Several senators, including Jimoh Ibrahim, Adams Oshiomhole, and Elisha Abbo, expressed their discontent over the economic challenges facing the country, highlighting the significant devaluation of the Naira.
In light of these concerns, the new CBN leadership has been urged to explore innovative approaches to address these economic challenges and strengthen the Naira’s value.
The confirmation of Mr. Olayemi Cardoso and his team comes at a critical time when economic stability and exchange rates are central issues for Nigeria. Their leadership will play a pivotal role in shaping the country’s economic policies and addressing the challenges ahead.