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Meet the new CBN deputy governors

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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).

Philip Ikeazor

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.

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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.

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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.

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Edo Election: Quasi-security outfits not allowed – IGP

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With days to the September 21 Governorship Election in Edo State, the Inspector General of Police (IGP) Kayode Egbetokun says quasi-security outfits won’t be allowed to intervene in election security in the South-South state.

He stated this Sunday during the Edo Election Security Townhall, a programme organised by Channels Television in partnership with the Kimpact Development Initiative and the UK International Development.

Egbetokun said, “We will be impartial, we will be professional, and we will be vigilant whilst providing a level playing ground for all the political parties and their candidates.

“Quasi-security organisations would not be allowed to take part in this election. They will not be allowed to intervene in the election security. Just as we have done in previous elections, only the police and other security agencies will be lawfully deployed for this exercise.

“For those who may be thinking of using violence to disrupt the election, I have a warning for them. Any person or persons found bearing any offensive weapon on the day of election will be treated instantly as an armed criminal.”

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Egbetokun assured citizens of the state of “peaceful outcomes”.

With the IGP’s comment, the Edo State Security Network and other state-run and private-run outfits are banned from election security next Saturday.

The political temperature in the state has been turbocharged in the last year. Of note, 95 cases of violence including 35 incidents of electoral violence have been recorded since January this year in the state. Last week, the Peoples Democratic Party declined to sign a peace pact signed by 16 other parties fielding candidates in the poll.

Analysts have described the forthcoming poll as a three-horse race involving Asue Ighodalo of the People Democratic Party (PDP), Monday Okpebholo of the All Progressives Congress (APC) and Olumide Akpata of the Labour Party (LP).

Akpata is a former president of the Nigerian Bar Association (NBA); while Ighodalo, former Chairman of the Nigerian Economic Summit Group (NESG); secured the endorsement of the incumbent governor, Godwin Obaseki, who shunned his deputy and party man, Philip Shaibu. Shaibu and former governor Adams Oshiomhole have pledged their support for Okpebholo.

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Over 2.6 million registered voters from 18 local government areas are to decide the next governor of the South-South state.

Edo is one of the eight states where governorship elections are held off-season due to litigations and court judgements. Others are Anambra, Bayelsa, Ekiti, Imo, Kogi, Osun and Ondo.

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BREAKING: 281 inmates missing from custodial centre after Maiduguri flood – NCoS

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The Nigerian Correctional Service has declared 281 inmates missing from the Medium Security Custodial Centre, Maiduguri, the Borno State capital.

The service noted that this followed an evacuation process in the aftermath of the flood incident in the state, as seven inmates were returned to the centre.

 

In a statement on Sunday in Abuja by its spokesman, Umar Abubakar, the service released the details of the inmates, including their biometrics.

Abubakar said, “The Nigerian Correctional Service has observed the flooding currently being experienced in Maiduguri, Borno State, and its environment.

“The unfortunate incident has left scars, bringing down the walls of the correctional facilities, including the Medium Security Custodial Centre, Maiduguri (MSCC), as well as the staff quarters in the City.

 

“Upon the evacuation of inmates by officers of the service with support from sister security agencies to a safe and secure facility, 281 inmates were observed to be missing.”

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He, however, added that “it is important to note that the service is in custody of their details, including their biometrics, which is being made available to the public below.

 

“The service is working in synergy with other security agencies as both covert and overt deployments have been activated to look out for them.

 

“Presently, a total of seven inmates have been recaptured and returned to custody, while efforts are on ground to track down the rest and bring them back to safe custody.”

 

“While this effort is on, the public is assured that the incidence does not impede or affect public safety.”

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BREAKING: NNPC trucks begin petrol loading at Dangote refinery

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A fleet of trucks at the Dangote Refinery, located in the Ibeju-Lekki area of Lagos State, began lifting Premium Motor Spirit, known as petrol, on Sunday.

The trucks, belonging to the Nigerian National Petroleum Corporation Limited, were seen in videos posted on the X handle of the Dangote Group.

The tweet read, “First set of trucks set for loading of PMS at the Dangote Petroleum Refinery.”

Meanwhile, the national oil firm, in a tweet on Saturday, noted that hundreds of trucks would be deployed to the refinery today (Sunday) for PMS loading.

The NNPC stated, “In preparation for the Dangote Refinery’s scheduled petrol loading on Sunday, 15th September 2024, NNPC Ltd has been mobilising trucks to the refinery’s fuel loading gantry in Ibeju-Lekki. As of Saturday afternoon, NNPC Ltd had deployed over 100 trucks, with hundreds more en route.”

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