President Bola Tinubu has nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).
The nomination is for a term of five years at the first instance, pending his confirmation by the Senate.
His nomination was contained in a statement by the presidential spokesperson spokesman Chief Ajuri Ngelale on Friday.
According to Ngelale, the directive conforms 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 also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN) for a term of five years at the first instance, pending their confirmation by the Senate.
The new Deputy Governors are:
(1) Mrs. Emem Nnana Usoro
(2) Mr. Muhammad Sani Abdullahi Dattijo
3) Mr. Philip Ikeazor
(4) Dr. Bala M. Bello
Cardoso is a Nigerian banker, chartered stockbroker and public policy maker. He served as the former chairman of Citibank Nigeria and was the Commissioner for Lagos State Ministry of Economic Planning and Budget.
Cardoso studied managerial and administrative studies at the Aston University, where he obtained a Bachelor of Science (B.Sc.) degree and has a Master’s degree from the Harvard Kennedy School in public administration.
He was chairman of the board of Citibank Nigeria and became a member of the Cities Alliance’s Africa Think Tank Group, a group created to solve urban development challenges. He has served as a board member of MRS Oil and was the chairman of the board of EFinA.[10][11] Cardoso is a member of the advisory board of Lagos Business School and chairman of the board of African Venture Philanthropy Alliance.
Cardoso was the commissioner for economic planning and budget for Lagos state.
He is the founding chairman and co-chair of Ehingbeti Summit, the Lagos state economic summit.
