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Senate commences screening of Cardoso and Dep. Gov nominees

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Yemi Cardoso e1695028357578

The Senate has commenced screening of Dr. Olayemi Cardoso for possible confirmation as Governor of the Central Bank of Nigeria (CBN).

The Senate will also screen the four nominees for the positions of CBN Deputy Governors, who upon confirmation with Dr. Olayemi Cardoso would head the apex bank for the next five years.

Dr. Olayemi Cardoso while answering questions from the Senate during his screening has stated that Nigeria needs a stable exchange rate to help the country move forward.

In his words,

On how he would deal with compliance with regulations, Cardoso said:

ThePressNG reported that the exchange rate between the naira and dollar was quoted on Monday, September 26th for as high as N1,006/$1 on P2P platforms where forex is sold using cryptocurrency stablecoins.

At the official I&E Window, also known by the acronym NIFEX, the exchange rate settled at N773/$1.

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