Senate to Screen Nominees For CBN Governor, Deputies On Tuesday

The Senate Leader, Opeyemi Bamidele, on Monday, disclosed that the Senate would, on Tuesday screen the former Chairman of the Board of Citi Bank Nigeria and acting Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso.

A statement by the Media Office of the Senate Leader, Senator Michael Opeyemi Bamidele, further explained that the Senate would also screen four nominees for the positions of CBN Deputy Governors, who would join forces with Cardoso to steer affairs of the apex bank in the next five years.

 He said the Senate would screen all the nominees following its resumption from its annual recess.

Part of the statement read, “The Senate of the Federal Republic of Nigeria will resume plenary on Tuesday, September 26. We will consider the screening of Dr. Cardoso at the Committee of the whole.

“Dr. Cardoso will be screened alongside four deputy governors namely Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

“Besides, the Senate has scheduled to screen the ministerial nominees – Dr. Jamila Bio Ibrahim and Mr. Ayodele Olawande, respectively designated as Minister of Youth and Minister of State for Youth on October 3.”

On September 15, President Tinubu approved the nomination of Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN).

 He also approved the nomination of four deputy governors for a term of five years each at the first instance, pending their confirmation by the Senate of the Federal Republic of Nigeria.

The Senate Committee on Banking, Insurance and other Financial Institutions may, on Tuesday, screen for confirmation, the appointment of the acting Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso.

The Chairman of the Senate Panel, Mr. Tokunbo Abiru, who is representing Lagos East Senatorial District in the red chamber, earlier on Monday, in an exclusive interview with THISDAY in Abuja, confirmed that the CBN acting governor and his deputies would be screened on Tuesday.

It was also learnt that the request for the screening and confirmation of Cardoso might be among the official communications from President Bola Tinubu which were already pending on the table of President of the Senate, Godswill Akpabio.

Series of reactions had greeted the resumption of Cardoso as the apex bank’s helmsman on acting capacity last week, with most commentators arguing that he should have waited for the Senate screening and confirmation before doing so in accordance with the CBN Act.

Some even faulted his appointment since the suspended CBN Governor, Godwin Emefiele, had not officially completed his tenure.

But speaking with THISDAY, Abiru said since the CBN had confirmed the resignation of Emefiele, through an official statement last Friday, the Senate had the constitutional power to screen and confirm his appointment.

The Senator said, “There is no issue at all with the appointment of the acting CBN Governor. The bank had already confirmed that the suspended Governor had officially resigned his appointment.

“The fact that he had resumed duties in acting capacity is also normal because the country cannot afford any vacuum in its apex institution which is responsible for the nation’s monetary policies among other responsibilities.

“President Bola Tinubu has done the right thing by appointing a successor to Mr. Godwin Emefiele who had resigned his appointment according to the CBN.

“Our Committee will, most probably, screen Mr. Cardoso when the Senate resumes plenary on Tuesday, all things being equal.”

Tinubu had on September 15, nominated Cardoso as the new CBN Governor to serve for a period of five years if the Senate confirms his appointment.

Cardoso was at various times Chairman of Citibank and also served as Commissioner for Budget and National Planning when Tinubu was Governor of Lagos State (1999 – 2007).

He took over from Emefiele, who has been on suspension as CBN Governor since June 9, 2023,

Before Cardoso’s nomination, Folashodun Adebisi Shonubi had been in charge of the apex bank in acting capacity following his appointment by Tinubu.

Sunday Aborisade in Abuja

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