Olayemi Cardoso has been appointed as Nigeria’s new CBN governor alongside four new deputies: Nnana Usoro, Muhammad Abdullahi Dattijo, Philip Ikeazor, and Bala M. Bello.
According to Section 6 Subsection 2 of the CBN Act 2007, the CBN’s board of directors, which is responsible for the policy and general administration of the bank, consists of the governor, who is the chairman, four deputy governors, the permanent secretary ministry of finance, five directors, and the accountant general of the federation.
With a combined experience of over 130 years in financial services, economics, and public policy, meet the team set to confront woes troubling the CBN.
Bala Mohammed Bello
Bala Mohammed Bello is the Executive Director of Corporate Services at the Nigerian Export-Import Bank appointed by His Excellency President Muhammadu Buhari (GCFR).
A banker with over 30 years of experience in the financial services industry. He has held various board positions, notably as the CEO of Keystone Bank Limited, CEO of Ecobank Kenya Limited, Executive Director of Union Bank Nigeria, Director of Union Bank UK PLC, and Director of the Orient Bank Uganda.
Read also Tinubu names Cardoso new CBN Governor
Muhammad Abdullahi Dattijo
Muhammad Abdullahi Dattijo is a development economist with over two decades of experience in policy formulation, public finance, and project implementation.
He has served in various positions, including as a Policy Adviser at the United Nations Secretary-General Ban Ki-Moon Executive Office in New York. He was a core team member in this role that designed the Sustainable Development Goals (SDGs). He also serves as a World Bank Expert Advisory Council member on citizen engagement.
Emem Nnanna Usoro
The only female on the team has two decades of banking experience spanning retail, commercial, corporate banking, and public sector. Emem Nnanna Usoro currently holds the executive director position at United Bank for Africa (UBA), in charge of the Bank’s Northern operations.”
Cardoso’s and his team’s confirmation at the CBN is pending till the senate’s return from its recess in October.
They will each take the roles of deputy governor of financial system stability, deputy governor of corporate services, deputy governor of economic policy, and deputy governor of operations.
The Deputy Governor of Operations oversees banking operations, branch operations, currency operations, currency operations information technology, and reserve management.
Banking and other financial institution supervision, consumer protection, financial policy & regulation, payments systems & management is handled by the Deputy Governor in charge of Financial System Stability.
Concerning the financial markets, the Deputy Governor of Economic Policy supervises monetary policy, research, statistics, trade & exchange.
The fourth deputy governor oversees capacity development, corporate communications, finance, human resources, legal services, medical services, procurement & support services, and security services.
The five-man team is expected to arrest the slump in the naira through customary steps by addressing FX issues, the operations of black-market vendors, the ban on cryptocurrency trading, and excessive printing of bills through Ways and Means, amongst several other matters under their jurisdiction.
The central bank governor is expected to appear before the National Assembly from time to time to make formal presentations on the activities of the bank and the performance of the economy, according to Section 8 Subsection 4 of the CBN Act, which Emefiele rarely did during his eight years of administration.
President is not a magician, says Remi Tinubu
The first lady, Oluremi Tinubu, says her husband, President Bola Tinubu, would not wave a magic wand and solve all of the country’s problems in a flash.
The first lady said this on Sunday during an inter-denominational church service to commemorate Nigeria’s Independence Day.
She said her husband inherited the current challenges in the country, adding that the president is determined to fix them rather than blame past leaders.
“All we inherited are things that had happened many years ago. We are not here to put blame on any administration but to fix what has been damaged,” she said.
“My husband is not a magician. He is going to work and I believe and hope that we will have peace in this country. The best is yet to come to us.
“Good governance can only be impactful if the people follow the example of Jesus Christ, our Lord, who embodied the fruit of the spirit, including love, joy, peace, long-suffering, gentleness, goodness, faith, meekness, temperance and forgiveness.
“A Nigeria of abundance has begun, and to be part of the greatness that God has started in the nation, Nigerians must look beyond their current realities and embrace hope anew.”
Also speaking at the event, George Akume, secretary to the government of the federation (SGF), urged Nigerians to remain patient, adding that measures are being put in place to provide solutions to the problems bedevilling the country.
“Solutions to Nigeria’s complex problems can never be as instant as expected. It will take some time, but measures are already being put in place to address them,” Akume said.
Lagos to clampdown on illegal dredging operation, reads riot act
Determined to end illegal dredging activities in the state, the Lagos State government has vowed to stop all illegal dredging operations and flush out those operating without a government’s permit in the dredging sector from the state.
The Commissioner for Waterfront Infrastructure Development, Dayo Bush-Alebiosu disclosed this during a meeting with the members of the executive council of the Dredgers’ Association of Nigeria, Lagos State chapter.
The meeting was called to seek the cooperation of the association in enforcing guidelines regulating dredging activities and to declare Governor Babajide Sanwo-Olu’s administration’s zero tolerance for illegal dredging operations in the state.
According to the Commissioner, though the meeting is a familiarization forum to interact with members of the association and get first-hand information on how dredging activities could be improved upon with the view to maintaining the state’s waterfronts and prevent environmental degradation.
While soliciting their support in sanitizing dredging activities in the state, Bush-Alebiosu disclosed that the state would not condone the spate of illegal dredging activities being carried out in every nooks and crannies of the state.
Bush-Alebiosu also expressed the readiness of government officials to begin enforcement activities soon and that anybody caught violating dredging laws and regulations of the state would be prosecuted.
He therefore urged them to obtain all necessary permits and regularize their operations immediately.
He assured them of the government’s readiness to stand by the association in carrying out their lawful activities and also support them in all they do to ensure good waterfronts in Lagos State.
UN appeals to Lagos to allocate certain percentage of contracts to women-owned businesses
In his remarks, Mr Kehinde Gbajumo, the Permanent Secretary of the Ministry expressed his delight that the state executive members of the association were present at the meeting, saying this would go a long way in conveying the views of the state government to their members.
Gbajumo noted that dredging activities in the state are “no longer business as usual,” adding that the ministry is now all out to enforce the laws regulating dredging activities, he also enjoined them to comply with the guidelines.
In his response, the President of the Dredgers Association of Nigeria, Mr Bature Akpomejero pledged their support and cooperation to the state government in getting rid of illegal dredgers in the state.
He solicited the support of the ministry for proper regularization of dredging activities to curb the activities of illegal dredgers and their impact on the environment.
Akpomejero also urged the ministry to look into the issue of overloading of trucks by dredgers and those moving wet sand on the roads, which cause a lot of damage to our roads.
The secretary general of the association, Richard Ntan, also lent his voice; assuring the ministry of maximum cooperation and collaboration of the association, noting that they are ready to cooperate with the government.
Ntan called for more such meetings with the ministry to be able to iron out grey areas affecting their operations while fashioning out areas of mutual benefit between dredgers and the state government.
The dredging operation terms and conditions were later distributed to the members of the association to further enlighten them on their obligations to the state.
Nigeria@63: God will heal our land – Pastor Adeboye
Pastor Enoch Adeboye has prayed to God to heal Nigeria, asking citizens to also pray for the betterment of the nation.
The General Overseer of the Redeemed Christian Church of God (RCCG) said this on Sunday during the church’s October Thanksgiving Service and Nigeria’s 63rd Independent Day celebration.
Pastor Adeboye spoke on the topic ‘Freedom Indeed’ during the service.
“I pray in the name that is above every other name that God will heal our nation,” the preacher said.
“Independence is talking about freedom, that is why we would be talking about freedom indeed. You may be enjoying independence from the colonial master and still be a slave to sickness, poverty, terror, and forces of darkness,” he added.
“I am wishing you a very good celebration but more than anything else, I wish all of you who are in Christ freedom and freedom indeed.”
In many churches across the nation, the Christians marked Independence Day with praises and prayers for the country.
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