The nomination is for a term of five years at the first instance, pending his confirmation by the Senate.
A statement by his spokesman Chief Ajuri Ngelale explained the directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.
Tinubu also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN) for a term of five years at the first instance, pending their confirmation by the Senate.
The new Deputy Governors are:
(1) Mrs. Emem Nnana Usoro
(2) Mr. Muhammad Sani Abdullahi Dattijo
(3) Mr. Philip Ikeazor
(4) Dr. Bala M. Bello