President Bola Tinubu on Friday has appointed Olayemi Michael Cardoso as the new governor of the Central Bank of Nigeria.
This was contained in a statement issued by Chief Ajuri Ngelale, Special Adviser to the President on Media & Publicity and obtained by DAILY GIST.
According to the President, Cardoso will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate
The statement reads: “Pesident Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve 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.
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.
Furthermore, President Bola 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, as listed below:
(1) Mrs. Emem Nnana Usoro
(2) Mr. Muhammad Sani Abdullahi Dattijo
(3) Mr. Philip Ikeazor
(4) 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.”
Below are some of the things to know about the new CBN governor:
• Olayemi Micheal Cardoso is a Nigerian banker, chartered stockbroker and public policy maker.
• He formerly served as the chairman of Citibank Nigeria and was the Commissioner for Lagos State Ministry of Economic Planning and Budget.
• The acting CBN governor studied managerial and administrative studies at the Aston University, where he obtained a Bachelor of Science (B.Sc.) degree.
• Cardoso obtained a Master’s degree from the Harvard Kennedy School in public administration.
• Cardoso was a member of the Cities Alliance’s Africa Think Tank Group, a group created to solve urban development challenges.
• He has served as a board member of MRS Oil and was the chairman of the board of EFinA.
• The CBN boss is a member of the advisory board of Lagos Business School and chairman of the board of African Venture Philanthropy Alliance.
• He is the founding chairman and co-chair of Ehingbeti Summit, the Lagos state economic summit.
• Cardoso is also a former executive lead at Harvard Kennedy School alumni association
• He was a commissioner under Bola Tinubu as Lagos state governor
