President Bola Tinubu on Friday nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).
Cardoso will serve for a term of five years at the first instance, pending his confirmation by the Nigerian Senate, according to a statement by the presidential spokesman, Ajuri Ngelale, a copy of which was given to Persecondnews.
If approved by the Senate, Cardoso replaces the suspended CBN Godwin Emefiele, who is currently facing criminal charges in the law courts.
“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 has 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,” the statement said.
Quick things you need to know about the new apex bank governor
*He is Olayemi Michael Cardoso.
*A financial and development expert with over 30;years experience in the private, public, and not-for-profit sectors.
*He obtained a Bachelor degree (B.Sc.) in Managerial and Administrative Studies from Aston University 1980, and Masters in Public Administration from Harvard Kennedy School of Government (HKS), Cambridge, Massachusetts.
*In recognition of his contribution to the private and public sector, Aston University gave him a Doctorate in Business Administration (DBA) (honoris causa) in 2017.
*He is a chartered stockbroker, public policy expert and Chairman of the Board of Directors of Citibank Nigeria Ltd for 12 years, until his resignation in 2022.
*He served as the first Commissioner for Economic Planning and Budget in Lagos State under the administration of Bola Tinubu as governor 1999-2007.
*He has also served on the board of several leading companies including Texaco and Chevron Oil Plc.
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