CBN confirms Emefiele’s resignation as Cardoso assumes office

Ndokwa Vanguard September 22, 2023 2 minutes read

The Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor, three months after being suspended from office by President Bola Tinubu.

Olayemi Michael Cardoso who was nominated by President Bola Ahmed Tinubu, will act as governor of the Central Bank of Nigeria, pending his confirmation by the parliament.

A statement released by the apex bank says Cardoso’s assumption follows the resignation of the immediate past governor of the bank, Godwin Emefiele,

The statement added that the Deputy-Governors-Designate of the bank 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 of 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.