Senate Confirms Olayemi Cardoso As CBN Governor

In a significant development, the Senate has officially confirmed the appointment of Dr. Olayemi Cardoso as the Governor of the Central Bank of Nigeria (CBN). This confirmation comes after thorough screening and evaluation on Tuesday, during which Cardoso’s qualifications and suitability for the role were thoroughly examined. Dr. Cardoso’s confirmation also marks the approval of four nominees for the positions of Deputy Governors at the CBN. These appointments collectively signify a crucial step in shaping the direction of the apex bank’s operations over the next five years. It’s worth noting that Dr. Cardoso had assumed the role of Acting CBN Governor last week, pending his formal screening and subsequent confirmation by the Senate. This confirmation solidifies his position as the head of the CBN and underscores his mandate to lead the nation’s central banking institution. In addition to the CBN appointments, the Senate has set a date for the screening of two additional ministerial nominees, a move proposed by President Bola Tinubu. Dr. Jamila Ibrahim and Ayodele Olawande have been appointed as the Minister of Youths and Minister of State for Youths, respectively, by Tinubu during the National Assembly’s break. Their upcoming screening which will take place on Tuesday, October 3, 2023, will further reshape the composition of the federal cabinet.

IADI–ARC appoints NDIC’s Bello Vice Chairperson

The International Association of Deposit Insurers, African Regional Committee (IADI-ARC), has named Mr. Bello Hassan, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), as its Vice Chairperson. The announcement came during the IADI-ARC Annual General Meeting (AGM) held recently in Dakar, Senegal. Bashir Alhassan Nuhu, Director of Communication & Public Affairs at NDIC, made the announcement on behalf of the organization on Monday in a press statement sent to NIGERIAN ANCHOR. IADI, which was established in May 2002, serves as the global standard-setting body for deposit insurance systems. It also acts as a platform for knowledge exchange, offering international conferences, workshops, attachments, capacity-building programs, and research and guidance on deposit insurance matters for its members. In pursuit of its mission, the Association develops core principles, standards, and guidelines aimed at improving the effectiveness of deposit insurance systems across various jurisdictions. Mr. Bello Hassan’s appointment as Vice Chairperson follows his election to the IADI Executive Council (EXCO) in October of the previous year during the IADI’s Annual General Meeting held in Buenos Aires, Argentina. The EXCO serves as the governing body of IADI, responsible for ensuring the Association’s smooth operations. The leadership of IADI-ARC highlighted that Mr. Bello’s inclusion in the Association’s EXCO and his subsequent appointment as Vice-Chairperson reflects the recognition of his remarkable contributions, unwavering commitment, and significant leadership in advancing deposit insurance practices in Africa and worldwide. The appointment signifies Nigeria’s growing prominence and influence within the global financial community, particularly in the field of deposit insurance.