The Central Bank of Nigeria (CBN) has announced Mr. Godwin Emefiele’s resignation from his role as governor, occurring three months after President Bola Tinubu suspended him from office.
Olayemi Michael Cardoso, nominated by President Bola Ahmed Tinubu, will serve as the acting governor of the Central Bank of Nigeria until his confirmation by the parliament.
According to a statement issued by the apex bank, Cardoso’s assumption of the role comes in the wake of the resignation of the former governor of the bank, Godwin Emefiele.
The statement added that the Deputy-Governors-Designate of the bank has also assumed duty, in acting capacities 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.”
An Economic and Development Policy Advisor, Financial Sector Leader, former Chairman of Citi Nigeria and Commissioner for Economic Planning and Budget in Lagos, Cardoso brings over three decades of managerial experience on board. He 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.
Dr. Cardoso and his fellow appointees were designated to their respective positions at the Bank on September 15, 2023, with their confirmation pending approval by the Senate.