President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.
The Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, said in a statement on Friday that the “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.”
He stated also that the President Bola also 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.
The four new deputy governors are Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor and Dr. Bala M. Bello
“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.” The statement added
Tinubu, had on June 9, 2023 sacked the former Governor of Central Bank of Nigeria, CBN, Governor, Mr Godwin Emefiele, from office with immediate effect.
He Emefiele who has a facing prosecution was sacked due to an ongoing investigation of his office and the planned reforms in the financial sector of the economy.
Cardoso was Commissioner for Economic Planning and Budget when Tinubu was Governor of Lagos State.
Olayemi Micheal Cardoso is highly reputable banker, chartered stockbroker and public policy maker.
Cardoso holds a Bachelor of Science degree in Managerial and Administrative Studies from Aston University, Birmingham, England.
He also has a Master’s degree in Public Administration from the Harvard Kennedy School, Cambridge, Massachusetts, the United States.
Cardoso was chairman of the board of Citibank Nigeria.