CBN allocates roles to newly confirmed deputy governors

CBN slashes cash mop up by 82% to N150 billion
CBN slashes cash mop up by 82% to N150 billion

The Central Bank of Nigeria (CBN) has recently assigned roles to its four newly appointed deputy governors following their confirmation by the Senate.

The deputy governors are Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

According to Mr. Olalekan Ajayi, Principal Manager at the CBN Corporate Communication Department, the responsibilities are as follows:

  • Dr. Bala Bello is in charge of corporate services.
  • Mr. Mohammed Sani is responsible for economic policy.
  • Mr. Philip Ikeazor has been designated as deputy governor in charge of financial system stability (FSS).
  • Mrs. Emem Usoro is responsible for operations.

These appointments were confirmed by the Senate, which also approved Dr. Olayemi Michael Cardoso as the new Governor of the CBN. Dr. Cardoso assumed the role of acting governor prior to his Senate confirmation.

Dr. Cardoso, who brings over three decades of managerial experience to the role, expressed concern about Nigeria’s exchange rate and pledged to implement transparent rules to address the issue.

He emphasized the need for a stable exchange rate and the importance of addressing unsettled obligations by the CBN.

Dr. Cardoso also stressed the significance of transparent guidelines for foreign investors, aiming to increase liquidity and boost investor confidence in the Nigerian market.