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Pending Senate Confirmation Cardoso to Act as CBN Governor


…. With Deputy Governors Designates in Tow

President Bola Tinubu’s nominee for the position of Governor of the Central Bank of Nigeria Dr. Olayemi Michael Cardoso,has Friday, September 22, 2023, formally assumed duty, in an acting capacity even as Senate confirmation is still being awaited.
The Deputy-Governors-Designate have also assumed duty, in acting capacities.
This development follows the formal resignation of the former governor Mr. Godwin Emefiele and his deputies Mr. Folashodun Shonubi( who acted as Governor since the onset of Mr. Emefiel’s travails), Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora.
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, earlier today and have since settled down to the task of administering monetary and financial sector policies of the Federal Government.
Their nominations had been announced about a week ago on the 15th of September, 2023 but the Senate has not yet ratified the appointment as statutorily required. This move might be indicative of the President’s desire not to allow a vacuum in the management of the apex bank as well as to quickly get to work to arrest the worrisome drift of the nation’s economy.

An Economic and Development Policy Advisor, Financial Sector Leader, former Chairman 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. He also holds a Master’s degree in Public Administration from the Harvard Kennedy School, United States of America.

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