The Nigerian Senate has given the green light for Dr. Yemi Cardoso to assume the role of the new Governor of the Central Bank of Nigeria (CBN). Alongside this, the Senate also granted approval to four Deputy Governors who were nominated by President Bola Tinubu the previous week.
The confirmed Deputy Governors are Mrs. Emem Usoro, Mr. Muhammad Dattijo, Mr. Philip Ikeazor, and Dr. Bala Bello.
Before the confirmation, the Senate temporarily suspended its procedures to welcome the nominees into the chamber. Sen. Abdullahi Gumel, the Senior Special Assistant to the President on National Assembly Matters (Senate), led the nominees into the chamber.
Subsequently, both Dr. Yemi Cardoso and the Deputy Governors had the opportunity to present their career backgrounds and professional experiences.
Dr. Cardoso highlighted his 12-year tenure as the Chairman of Citibank from 2010 to 2022, where he focused on enhancing both the financial and non-financial aspects of the institution. He emphasized the importance of stabilizing the Naira’s exchange rate and the need for transparent and understandable rules for the finance sector. He also discussed tackling inflation and addressing the issue of deficit financing.
President of the Senate, Sen. Godswill Akpabio, underscored the urgency of the Senate’s decision due to the sudden resignation of the former CBN Governor, Mr. Godwin Emefiele. Akpabio encouraged Senate Committees on Finance and Banking to conduct thorough oversight of the CBN.
Dr. Yemi Cardoso was born on July 10, 1957, and educated at St. Gregory’s College, Lagos. He earned a Bachelor’s degree from Aston University, Birmingham, and an MPA from Harvard.
He began his career as a chartered accountant in London and joined Citibank in 1981. He has held various positions in the banking industry and has served as Chairman of Citibank Nigeria from 2010 to 2022.
