According to a statement on Friday by presidential spokesman, Ajuri Ngelale, Cardoso will serve for a term of five (5) years at the first instance, pending his confirmation by the Senate.
The President also approved the appointment of four deputy governors for the apex bank. The new Deputy Governors are; Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
The statement added: “This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.
“Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate.
“In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.”
Cardoso, a banker and chartered stockbeoker, was a former Chairman of Citibank Nigeria. He served as the Lagos State Commissioner for Economic Planning and Budget, when President Tinubu was Governor of Lagos State.