As expected, President Bola Tinubu has finally sealed the fate of the suspended and detained Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele with the appointment of Dr. Olayemi Michael Cardoso as the new helmsman at the nation’s apex Bank
Cardoso is a Banker, Chartered Stockbroker, and Public Policy Maker, who served as the former chairman of Citibank Nigeria and one-time Commissioner for Lagos State Ministry of Economic Planning and Budget.
A statement by presidential spokesman, Ajuri Ngelale, on Friday evening said; “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.”
Ngelale said in the statement thus; “This 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.”
The new Deputy Governors are listed as (1) Mrs. Emem Nnana Usoro; (2) Mr. Muhammad Sani Abdullahi Dattijo; (3) Mr. Philip Ikeazor; and (4) Dr. Bala M. Bello
According to the Presidential aide, “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 new CBN helmsman is the founding chairman and co-chair of Ehingbeti Summit, the Lagos State Economic Summit. Also a former Executive Lead at the Harvard Kennedy School alumni association, Cardoso did managerial and administrative studies at Aston University, where he obtained a Bachelor of Science (B.Sc.) degree. He has a Master’s degree from the Harvard Kennedy School in public administration.