President Bola Tinubu has appointed Dr. Olayemi Michael Cardoso as the new CBN Governor. This was confirmed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, in a statement released on Friday.
Dr. Cardoso is set to take on the role for a term of five years, pending approval by the Nigerian Senate.
President Tinubu’s decision aligns with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which grants the President of Nigeria the authority to appoint the CBN Governor and four Deputy Governors, subject to Senate confirmation.
Who is Olayemi Cardoso?
Olayemi Michael Cardoso, a Nigerian financial expert, certified stockbroker, and public policy leader. He served as the Chairman of Citibank Nigeria and as a board member of MRS Oil and as Chairman of the board of EFinA.
Notably, Yemi Cardoso served as the Commissioner for Economic Planning and Budget for Lagos State, where he played a pivotal role in shaping economic policies for one of Nigeria’s most economically vibrant regions.
Dr. Yemi is not just a policy-maker but also the founding chairman and co-chair of Ehingbeti Summit, an economic summit of great importance for Lagos State.