President Bola Ahmed Tinubu has made a significant move in reshaping the leadership of the Central Bank of Nigeria (CBN) by appointing Muhammad Sani Abdullahi Dattijo and three other Deputy Governors. This development comes in the wake of the removal of all the previous deputy governors who served under the tenure of Godwin Emefiele, the former CBN governor, who is currently in the custody of the Department of State Services (DSS).

The announcement of these appointments was made through a statement issued by the President's spokesman, Chief Ajuri Ngelale, on a notable Friday. The President's decision includes the approval of the nominations of these four new Deputy Governors, each appointed for an initial term of five years, pending confirmation by the Nigerian Senate.

The newly appointed Deputy Governors include Muhammad Sani Abdullahi Dattijo, Mrs. Emem Nnana Usoro, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

President Tinubu's directive aligns with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which empowers the President of Nigeria to appoint the Governor and four Deputy Governors for the CBN, with confirmation by the Senate. These appointments are seen as a critical step in President Tinubu's Renewed Hope agenda, with the expectation that the nominees will implement crucial reforms at the CBN to enhance the confidence of both Nigerians and international partners. These reforms aim to restructure the Nigerian economy towards sustainable growth and prosperity.

Yemi Cardoso, previously nominated as the new CBN Governor by President Tinubu, is awaiting Senate confirmation for a five-year term. Cardoso brings a wealth of experience to the position, having worked in various sectors, including the public, private, and development sectors. He has served as a commissioner of economic planning and budget in Lagos state, chaired the board of the African Venture Philanthropy Alliance, and most recently, chaired Citibank Nigeria Ltd. Additionally, Cardoso has played a significant role in organizing the Ehingbeti Summit, the Lagos state economic summit, and is an advisory board member at Lagos Business School (LBS).

Notably, the statement announcing Cardoso's nomination as CBN Governor did not provide information about the fate of Godwin Emefiele, the suspended former CBN governor, who remains in DSS custody. Furthermore, it remains uncertain how this leadership transition will affect the other deputy governors of the bank, as the President's directive affects all the deputies who previously served under the former governor, Emefiele.