By Ann Okereke
Four months after the suspension of former Governor of Central Bank of Nigeria, Mr. Godwin Emefelie, from office, Nigerian President, Asiwaju Bola Ahmed Tinubu, has nominated Dr. Olayemi Michael Cardoso as new head of the apex bank.
The President also nominated four Deputy Governors of CBN – Mrs. Emem Nnana Usoro; Mr. Muhammad Sani Abdullahi Dattijo; Mr. Philip Ikeazor and Dr. Bala M. Bello.
Tinubu had on June 9, 2023 suspended Emefiele from office and authorised the Deputy Governor (Operations) to hold the forth.
Emefiele’s suspension was sequel to an investigation of his tenure and what the government termed as planned reforms.
Announcing the nomination Cardoso and the Deputy governors, Special Adviser to the President (Media & Publicity), Chief Ajuri Ngelale, said on confirmation by the Senate, they would serve for a term of five years at the first instance.
The presential spokesman said the nomination was “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.”
Tinubu, according to his media aide, looks forward to the implementation of reforms at the apex bank by the nominated officers.
“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,” Ngelale said.
Cardoso, a chartered stockbroker, had worked as chairman of Citibank in Nigeria and Commissioner for Economic Planning and Budget in Lagos State.
He was educated at the Aston University, where he studied Managerial and Administrative Studies and obtained a Bachelor of Science (B.Sc.) degree. He proceeded to Harvard Kennedy School, where he earned a Master’s Degree in Public Administration.
Apart from serving as chairman of Citibank Nigeria, Cardoso had also served on the board of MRS Oil and EFinA as board chairman. He was a member of the Cities Alliance’s Africa Think Tank Group, a group created to solve urban development challenges.
