Market News

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. 

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.  

It will be recalled that Dr. Cardoso and his colleagues were appointed to their respective positions at the Bank on September 15, 2023, subject to their confirmation by the Senate.