Olayemi Cardoso, new CBN gov assumes duty as embattled Emefiele resigns

Olayemi Cardoso, new CBN gov assumes duty as embattled Emefiele resigns

Olayemi Cardoso, who was recently nominated by President Bola Tinubu as the new Governor of Central Bank of Nigeria (CBN), has formally assumed duty at the apex Bank in an acting capacity pending the confirmation of his appointment by the Senate.

The development follows the formal resignation of Mr. Godwin Emefiele as governor CBN, the director of Corporate Communication of the CBN, Isa AbdulMumin, said in a statement on Friday.

Also, the deputy dovernors-designate of the Bank have assumed duty alongside Cardoso in acting capacity, sequel to the formal resignations of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora, as deputy governors of the CBN.

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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 22, 2023, and have settled down to the task of administering monetary and financial sector policies of the federal government, the CBN spokesman stated.

An economic and development policy advisor, financial sector leader, former chairman of CitiBank Nigeria and Commissioner for Economic Planning and Budget in Lagos State, 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.

Newstrends reports that Cardoso and his four deputies were appointed to their respective positions at the apex bank on September 15, 2023.

The now former CBN governor, Emiefele, has been in detention for months following his arrest by the Department of State Service over allegations bordering on corruption and abuse of office.

Olayemi Cardoso, new CBN gov assumes duty as embattled Emefiele resigns