President Tinubu’s Nominee, Dr. Cardoso Commences Work as Nigeria’s Apex Bank Acting Governor

Following the resignation of Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Michael Cardoso on Friday, September 22, 2023, formally assumed duty as the new governor in an acting capacity,

Dr. Cardoso who was recently nominated for the position by President Bola Tinubu, has not yet been confirmed by the Nigerian Senate.

A release signed by the Director, Corporate Communications, CBN, Dr. Isa AbdulMumin says the Deputy-Governors-Designate also resumed duty in acting capacities the same day.

Recall that Folashodun Shonubi,. Aishah Ahmad, Edward Lametek Adamu, and Dr. Kingsley Obiora all recently resigned as Deputy Governors of the Apex bank.

According to the release, 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.

“They have since settled down to the task of administering monetary and financial sector policies of the Federal Government.” The release read.

Dr. Cardoso is an Economic and Development Policy Advisor, Financial Sector Leader, former Chairman Citi Nigeria and Commissioner for Economic Planning and Budget in Lagos.

He brings over three decades of managerial experience on board. The acting CBN Governor is an alumnus of Aston University, Birmingham, United Kingdom, where he studied managerial and administrative studies.

He also holds a Master’s degree in Public Administration from the Harvard Kennedy School, United States of America.

Recall that Dr. Cardoso and his colleagues were appointed to their respective positions at the Bank on September 15, 2023, subject to their confirmation by the Senate.

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