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Cardoso assumes duty as acting CBN governor

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Dr Olayemi Michael Cardoso formally assumed duty as the acting governor of the Central Bank of Nigeria (CBN) on Friday, pending his confirmation by the Senate.

The CBN spokesperson, Isa AbdulMumin, said in a statement that Cardoso, who was recently nominated by President Bola Ahmed Tinubu, takes over following the resignation of Godwin Emefiele

Similarly, the Deputy Governors-Designate have also assumed duty in acting capacities, following the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.

Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the bank’s head office in Abuja,” AbdulMumin said.

“They have since settled down to the task of administering the 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.

The new acting CBN governor also holds a Master’s degree in Public Administration from the Harvard Kennedy School, United States of America (USA).

Cardoso and his colleagues were appointed to their respective positions at the Apex Bank on September 15, 2023, subject to their confirmation by the Senate.


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