The Nigerian Senate has initiated the screening process for Central Bank of Nigeria (CBN) governor nominee Olayemi Cardoso and four deputy governor candidates.

The screening follows President Bola Tinubu’s nomination of Cardoso as the new CBN chief, pending Senate confirmation. Cardoso has been serving in an acting capacity since last week.

Deputy governor nominees facing legislative vetting include Emem Nnana Usoro, Muhammad Abdullahi Dattijo, Philip Ikeazor, and Bala Bello. Their appointments also require Senate approval.

Majority Leader Opeyemi Bamidele moved the motion enabling the screening of Cardoso and the deputy nominees on Tuesday. The Senate aims to thoroughly assess their qualifications and policy positions.

Cardoso brings over three decades of banking expertise to the CBN’s top post amid economic uncertainty. The deputies will support critical policy duties like monetary policy, currency management and banking supervision.

With Nigeria grappling with rising inflation and foreign exchange volatility, the Senate confirmation process will evaluate the vision and competence of the central bank leadership team nominated.