By Enyichukwu Enemanna
Nigeria’s President Bola Tinubu on Friday nominated Dr. Olayemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN).
Tinubu also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria, for a term of five years at the first instance.
Both the governor and his deputies are subject to confirmation by the Senate.
“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 Deputy Governors for the Central Bank of Nigeria, subject to confirmation by the Senate of the Federal Republic of Nigeria,” a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, revealed on Friday.
The statement is titled ‘President Tinubu nominates new CBN governor and management team for senate screening and confirmation.’
Deputy governors nominated by the President, Mrs. Emem Usoro, Mr. Muhammad Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
If confirmed, Cardoso will succeed Godwin Emefiele as substantive governor of the apex bank.
Emefiele had been suspended since July and detained in the custody of the Department of State Services (DSS) over alleged misappropriation of funds.
He presided over an era of Naira notes scarcity, the country’s legal tender which lingered till the 2023 election which ushered in Tinubu as the President of the most populous African nation.
Tinubu had alleged that the ploy which preceded redesign of Naira notes was designed to thwart his chances of winning election.
Yemi Cardoso is a Financial and Development Expert with over 30 years’ experience in the private, public and not-for-profit sectors.
He 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
Cardoso is a former Commissioner for Economic Planning and Budget for Lagos State. He is the founding Chairman and co-chair of Ehingbeti Summit, the Lagos State Economic Summit.
He is also a former Executive Lead at Harvard Kennedy School alumni association.
He was Chairman of the Board of Citibank Nigeria.
