Why Tinubu appointed new management at CBN – Gumel

Sen. Abdullahi Gumel, the Senior Special Assistant to the President on National Assembly Matters (Senate), highlighted that the recent appointment of a new management team for the Central Bank of Nigeria (CBN) aims to rejuvenate the bank and enhance its effectiveness in fulfilling its responsibilities. Gumel emphasized that President Bola Tinubu’s decision to appoint the new team was part of the broader efforts to address the economic challenges facing the country.

In a statement issued in Abuja, Gumel emphasized that the CBN’s reputation had suffered, necessitating the appointment of this “rescue team” to restore its image. He stated that not only Nigerians but also the ECOWAS sub-region and the African Union (AU) were looking forward to Nigeria stabilizing its economy, as it would have positive effects on regional stability and contentment.

Gumel commended the Senate for promptly confirming the appointment of Mr. Olayemi Cardoso as the CBN Governor and his team, recognizing the importance of their role in the country’s economic revival. He underlined that the lawmakers effectively addressed critical economic concerns during the screening, reflecting the sentiments and expectations of the Nigerian populace regarding the CBN’s functions.

Gumel expressed optimism that other presidential appointees would undergo similar screening processes and be confirmed by the Senate in due course, showcasing a collaborative effort to bolster Nigeria’s economic outlook.