Yemi Cardoso Takes Over As Acting CBN Governor

BY EDMOND ODOK – Ahead of the September 26 resumption date of the Nigerian Senate that will formally confirm his appointment, Dr Olayemi Michael Cardoso, has officially taken over the helms of affairs at the Central Bank of Nigeria (CBN) as the acting Governor.

President Bola Tinubu had on September 15, 2023, appointed Cardoso pending his  confirmation by the Upper Legislative chamber following the reported resignation of suspended and detained former Governor, Godwin Emefiele.

According to a statement signed by Dr Isa Abdulmumin, CBN’s Director, Corporate Communications Department, Cardoso, alongside and four Deputy-Governors-Designate appointed by President Tinubu, took the relevant oaths of office in a brief ceremony held at the apex Bank’s Headquarters in Abuja on Friday, September 22, 2023.

The Deputy-Governors-Designate that have also assumed duty, in acting capacities pending their confirmation by the Nigerian Senate, are Mrs Emem Nnana Usoro; Mr Muhammad Sani Abdullahi Dattijo; Mr Philip Ikeazor; and Dr Bala M. Bello.

The foursome are coming on board to fill the vacancies created in the apex Bank by the resignation of Mr Folashodun Shonubi, Mrs Aishah Ahmad, Mr Edward Lametek Adamu, and Dr Kingsley Obiora as Deputy Governors.

Cardoso and the four new Deputy Governors, whose appointments are for a term of five (5) years at the first instance, have already settled in to handle the onerous task of administering monetary and financial sector policies of the Federal Government.

The Acting CBN Governor, who is an Economic and Development Policy Advisor, Financial Sector Leader, ex-Commissioner for Economic Planning and Budget in Lagos, and former Chairman of the Board of Directors of Citibank Nigeria, brings to the table over three decades of managerial experience.

With a Master’s degree in Public Administration from the Harvard Kennedy School, United States of America, the new CBN Chief is also an alumnus of Aston University, Birmingham, United Kingdom, where he studied managerial and administrative studies.

Meanwhile, insiders at the National Assembly (NASS) hinted that the Senate, which adjourned its plenary to proceed on two months annual recess, will be resuming on September 26th with the confirmation of President Tinubu’s appointments into the CBN as one of their first major assignments.