Mr. Godwin Emefiele’s resignation as governor of the Central Bank of Nigeria (CBN) has been officially announced, three months after being removed from office by President Bola Tinubu.
Olayemi Michael Cardoso, nominated by President Bola Ahmed Tinubu, will serve as acting governor of the Central Bank of Nigeria until his confirmation by the legislature.
According to a statement made by the apex bank, Cardoso’s appointment followed the resignation of the bank’s most recent governor, Godwin Emefiele.
According to the statement, in response to the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN, the Deputy-Governors-Designate of the bank have also taken over their positions in an acting capacity.
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‘’Dr. Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the Bank’s Head Office in Abuja, on Friday, September 2023, and have since settled down to the task of administering monetary and financial sector policies of the Federal Government.”
Cardoso brings more than three decades of managerial expertise to the table as a financial sector leader, advisor on economic and development policy, past chairman of Citi Nigeria, and commissioner for economic planning and budget in Lagos. He studied managerial and administrative studies at Aston University in Birmingham, United Kingdom. Additionally, he has a Master of Public Administration from the Harvard Kennedy School in the United States.
Recall that on September 15, 2023, Dr. Cardoso and his colleagues were appointed to the Bank’s various positions, subject to Senate approval.