Olayemi Cardoso, Among Others, Receives Senate Confirmation As CBN Governor

Olayemi Cardoso

The Senate approved Mr. Olayemi Cardoso's appointment as Governor of the Central Bank of Nigeria (CBN) on Tuesday.

Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello are other candidates that have been approved to serve as Olayemi's deputies.

After a lengthy discussion held behind closed doors and presided over by Senate President Godswill Obot Akpabo after returning from a two-month annual break, their screening got underway.

The MPs' queries were primarily about the Naira's exchange rate with other currencies, particularly the US dollar.

The politicians bemoaned the economy's problems, particularly the Naira's fast decline.

As a result of their complaints, Senators Jimoh Ibrahim, Adams Oshiomhole, and Elisha Abbo encouraged the new CBN team to "look outside the box to see a way of strengthening the Naira."