I won’t allow politicians to hijack central bank as tool of propaganda, says Cardoso

The Senate has confirmed the appointment of Olayemi Cardoso as Governor of the Central Bank of Nigeria (CBN), as he declared that he would not allow politicians to hijack the apex bank under his watch as tool of propaganda

Penpushing reports that the Senate President, Senator Godswill Akpabio, announced confirmation on Tuesday, which include appointments of four Deputy Governors of the apex bank, Emem Usoro, Muhammed Abdullahi-Dattijo, Philip Ikeazor and Bala Bello, who were cleared by a voice vote by senators at the plenary in Abuja, Federal Capital Territory (FCT).

The Governor of the apex bank who assumed duty last Friday ahead of his confirmation by the Senate, in response after his confirmation by the federal lawmakers said his major goal is to refocus the bank through his short, medium- and long-term measures.

Penpushing further reports that Cardoso assured that the bank under his watch will operate transparent monetary policies with respect to data, stressing that his administration will not tolerate the errors made by past administrations of the bank.

The cleared Governor of the Central Bank of Nigeria (CBN)promised that the bank under his watch will comply with all constitutional duties and ensure that financial policies of the country are of international standard, adding that the bank will not be hijacked or used by politicians as a tool of propaganda.

Penpushing also reports that it is recalled that President Bola Tinubu had nominated them for the positions on 15 September, 2023 pending confirmation of the Senate, while his(Tinubu) request seeking for the confirmation of the nominees was read by the senate president at the plenary earlier on Tuesday and it was passed to the senate committee of the whole for immediate consideration.

The nominees were therefore screened and cleared by the senators at the committee of a whole, and during the screening, the senators asked questions bordering on economic activities and foreign exchange from the nominees.

Penpushing reports that the nominees in response  pledged to reform the financial system of the Central Bank of Nigeria(CBN) upon confirmation of their appointments, and before the screening commenced the Senate President explained that the Senate decided to hold the screening and confirm the nominees immediately because of the role Central Bank of Nigeria(CBN) plays in Nigeria ‘s financial system.

The Senate President in same vein, explained that the screening which lasted for almost three hours, between 2:58 p.m. and 5:45 p.m was in the interest of Nigeria, which is the most populous country in Africa

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