Image caption: Olayemi Cardoso
Tinubu names new CBN governor, 4 deputies
President 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.
According to a press release by Ajuri Ngelale, Special Adviser to the President (Media & Publicity) the 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: Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor and 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,” the release states.
Who is Cardoso?
“Olayemi Michael Cardoso is the Chairman of Citibank Nigeria Limited and a financial and development expert with over thirty years of experience in the private, public, and not-for-profit sectors.0 He was awarded an honorary Doctorate of Business Administration from Aston University in 2017 for his outstanding contribution to business and society.
“Mr. Cardoso has spoken regularly at institutions such as the University of Oxford’s Sad Business School and Harvard Kennedy School.1 In 2017, he highlighted the Lagos-Hispanic connection and announced a partnership between Lagos and Salvador, Bahia, Brazil, which will provide an important building block for Nigerian outreach and business development in South America.”