Dr Cardoso Assumes Duty as Acting CBN Governor

CBN Governor, Olayemi Cardoso

Dr. Yemi Cardoso has assumed duty as Acting Governor of the Central Bank of Nigeria. This was disclosed via a press release by the apex bank.

President Bola Tinubu had nominated Dr. Olayemi Michael Cardoso to assume the role of Governor for the Central Bank of Nigeria (CBN).

This five-year appointment is subject to the endorsement of the Nigerian Senate, in compliance with Section 8 (1) of the Central Bank of Nigeria Act, 2007.

The press release from the apex bank disclosed that Dr. Cardoso together with his designated deputies took the oath of office today, Friday, 22nd September 2023 at the bank’s Head Office in Abuja.

“Dr. Olayemi Michael Cardoso, recently nominated by President Bola Ahmed Tinubu, has on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the Central Bank of Nigeria (CBN), pending his confirmation by the Senate.
This follows the resignation of Mr Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN), Similarly, the Deputy-Governors-Designate have also assumed duty, in acting capacities, the sequel to the formal resignation of Mr Folashodun Shonubi, Mrs Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.

Dr Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the Bank’s Head Office in Abuja, on Friday, September 2023, and have since settled down to the task of administering monetary and financial sector policies of the Federal Government.”

Dr. Yemi Cardoso is a financial and development expert with over thirty years of experience in the private, public, and not-for-profit sectors. He is the Chairman of the Board of Directors of Citibank Nigeria.

He has also served as the first commissioner/cabinet member for economic planning and budget for Lagos state and has also served on the board of several leading companies including Texaco and Chevron Oil Plc.
Recall that President Bola Tinubu had on 15th September 2023 nominated Dr. Olayemi Michael Cardoso to assume the role of Governor for the Central Bank of Nigeria (CBN).

The five-year appointment is subject to the endorsement of the Nigerian Senate, in compliance with Section 8 (1) of the Central Bank of Nigeria Act, 2007.

In addition to nominating Dr. Cardoso, President Tinubu also approved the selection of four other individuals to serve as Deputy Governors of the Central Bank of Nigeria.