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Olayemi Cardoso Emerges New CBN Governor As Tinubu Names Four Other Deputies

Published

3 years ago

September 16, 2023

President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

Cardoso whose appointment is for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate, brings to an end the era Acting Governor of the CBN Folashodun Shonubi who had been on the saddle following the suspension of Godwin Emefiele as the erstwhile CBN Governor.

Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity) disclosed the latest appointment for apex bank in a statement Friday.

According to Ngelale, “This 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.”

The presidential spokesman further revealed that, Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate.

Those nominated include: Mrs. Emem Nnana Usoro; Mr. Muhammad Sani Abdullahi Dattijo; Mr. Philip Ikeazor and Dr. Bala M. Bello.

Ngelale said, “In line with President Bola Tinubu’s renewed hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.”

Olayemi Micheal Cardoso is a Nigerian banker, chartered stockbroker and public policy maker. He served as the former chairman of Citibank Nigeria and was the Commissioner for Lagos State Ministry of Economic Planning and Budget.Cardoso studied managerial and administrative studies at the Aston University, where he obtained a Bachelor of Science (B.Sc.) degree. He has a Master’s degree from the Harvard Kennedy School in public administration.