Meet CBN new Governor, Dr. Yemi Cardoso

President Bola Tinubu on Friday 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.

This five-year appointment is subject to the endorsement of the Nigerian Senate, in compliance with Section 8 (1) of the Central Bank of Nigeria Act, 2007.

Dr. Cardoso, a financial and development expert with over thirty years’ experience in the private, public and not-for-profit sectors, before this new appointment is the Chairman of the Board of Directors of Citibank Nigeria.

He was the first commissioner/ cabinet member for economic planning and budget for Lagos state, and wrote and monitored the implementation of the blueprint which catalysed economic development in the world’s sixth largest megacity.

Cardoso has served on the board of several leading companies including Texaco and Chevron Oil Plc.

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In 2017, he was awarded an honorary doctorate degree in business administration by his alma mater, Aston University, in recognition of “his outstanding contributions to business and society”.

In addition to nominating Dr. Cardoso, President Tinubu has also approved the selection of four individuals to serve as Deputy Governors of the Central Bank of Nigeria. These esteemed candidates, who will also serve a five-year term pending Senate confirmation, are as follows:

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 also 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, as listed below:

(1) Mrs. Emem Nnana Usoro

(2) Mr. Muhammad Sani Abdullahi Dattijo

(3) Mr. Philip Ikeazor

(4) Dr. Bala M. Bello