Senate Approves Cardoso As New CBN Governor

The Senate has officially approved the appointment of Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN), along with four others who will serve as deputy governors in the apex bank.

Senate Approves Dr. Cardoso As The New CBN Governor
Dr. Cardoso, New CBN Governor

This confirmation took place on Tuesday following a thorough screening conducted by the upper legislative body. President Bola Ahmed Tinubu had initially nominated Cardoso to assume the role of CBN governor, a decision announced on September 15, 2023. Cardoso had already been serving as the acting governor of the CBN since the previous Friday, pending his confirmation by the Senate.

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Similarly, the Deputy Governors-Designate had been performing their duties in acting capacities.The four new Deputy Governors of the CBN are Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora.

Dr. Olayemi Michael Cardoso brings an impressive three-decade managerial background to his role, having served as an Economic and Development Policy Advisor, Financial Sector Leader, former Chairman of Citi Nigeria, and Commissioner for Economic Planning and Budget in Lagos.

Dr. Cardoso is an alumnus of Aston University, Birmingham, United Kingdom, and also holds a Master’s degree in Public Administration from the Harvard Kennedy School, United States of America (USA).

Chidalu Glory

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