The Central Bank of Nigeria (CBN) is present process a management change as Dr. Olayemi Cardoso has assumed workplace as the Acting Governor, amidst a overseas trade crisis. This improvement was confirmed by Isa AbdulMumin, CBN’s Director of Corporate Communications on Friday.
Cardoso’s appointment comes following the resignation of former CBN Governor Godwin Emefiele. The former governor tendered his resignation whereas below the custody of the Department of State Security Service. Emefiele’s departure was preceded by his suspension in June, ordered by President Bola Tinubu, who additionally initiated a probe into the actions of the apex financial institution.
Alongside Emefiele, all deputy governors of the CBN have additionally resigned. These embody Folashodun Shonubi, Aishah Ahmad, Edward Adamu and Kingsley Obiora. Shonubi had been acting as CBN Governor since Emefiele’s suspension.
President Tinubu nominated Cardoso for the governorship place on September 15. In addition to this, Emem Usoro, Abdullahi Dattijo, Philip Ikeazor and Bala Bello have been nominated as deputy governors. However, these nominations are pending affirmation by the Senate.
As Cardoso and his colleagues assume their roles in an acting capability, they’ve already begun administering the financial and monetary sector insurance policies of the Federal Government. The new management took their oaths of workplace at a short ceremony held on the financial institution’s head workplace in Abuja.
Meanwhile, amidst these modifications throughout the CBN management, Nigeria continues to face a overseas trade crisis. The nation’s foreign money depreciated additional on the forex window on Friday, exchanging N985/$1 on the parallel market.
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