Olayemi Cardoso: Emerging facts about new CBN governor

By Ukpono Ukpong

President Bola Tinubu has approved the nomination of Dr. Olayemi 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 was contained in a statement signed by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale.

According to the statement, the 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, as listed below: Mrs. Emem Nnana Usoro; Mr. Muhammad Dattijo, Mr. Philip Ikeazor, Dr. Bala Bello.

“In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.” The statement reads in parts.

Born Olayemi Micheal Cardoso, he is a banker, chartered stockbroker and public policy maker. He served as the former chairman of Citibank Nigeria and was the Commissioner for Lagos State Ministry of Economic Planning and Budget.

Cardoso studied managerial and administrative studies at the Aston University, where he obtained a Bachelor of Science (B.Sc.) degree. He also has a Master’s degree from the Harvard Kennedy School in public administration.

He was chairman of the board of Citibank Nigeria. He became a member of the Cities Alliance’s Africa Think Tank Group, a group created to solve urban development challenges. He has served as a board member of MRS Oil, member of the advisory board of Lagos Business School and chairman of the board of African Venture Philanthropy Alliance.

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