Yemi Cardoso assumes duty as acting CBN Governor

Dr Olayemi Cardoso has assumed duty as acting Governor of the Central Bank of Nigeria. 

President Bola Ahmed Tinubu recently nominated his longtime ally as the new substantive governor of the apex bank pending senate confirmation.

In a statement signed by Isa Abdulmumin, the CBN’s Director of Corporate Communication on Friday, September 22, 2023, the bank announced that Cardoso had assumed duty in acting capacities following the resignation of Godwin Emefiele as Governor of the Central Bank of Nigeria.

The bank also announced that the Deputy-Governors-Designate had also assumed duty, in acting capacities following the resignation of Folashodun Shonubi, Aishah Ahmad, Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.

The statement reads in part, “Dr. Olayemi Michael Cardoso, recently nominated by President Bola Ahmed Tinubu, has on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the Central Bank of Nigeria (CBN), pending his confirmation by the Senate. 

“This follows the resignation of Mr. Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN), Similarly, the Deputy-Governors-Designate have also assumed duty, in acting capacities, sequel to the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.

“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, on Friday, September 2023, and have since settled down to the task of administering monetary and financial sector policies of the Federal Government.”

Until his appointment, Cardoso was an Economic and Development Policy Advisor, Financial Sector Leader, former Chairman Citi Nigeria and Commissioner for Economic Planning and Budget in Lagos.