Dr. Olayemi Cardoso officially took on the role of acting Governor of the Central Bank of Nigeria (CBN) on Friday, following his nomination by President Bola Ahmed Tinubu.
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Dr. Cardoso’s appointment comes after the resignation of Mr. Godwin Emefiele as the Governor of CBN, and he is set to hold this position until he secures confirmation from the Senate.
Dr. Isa Abudulmumin, the Spokesman of CBN, confirmed Dr. Cardoso’s assumption of duty and highlighted that this transition aligns with the departure of the former Governor. Alongside Dr. Cardoso, the Deputy-Governors-Designate have also taken up their roles in acting capacities, following the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.
The swearing-in ceremony for Dr. Cardoso and his colleagues took place at the Bank’s Head Office in Abuja on Friday. They have swiftly settled into their responsibilities, which include administering monetary and financial sector policies of the Federal Government.
Dr. Olayemi Cardoso brings a wealth of experience to his new 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. With over three decades of managerial experience, his educational background includes studies at Aston University in Birmingham, United Kingdom, and a Master’s degree in Public Administration from the Harvard Kennedy School in the United States of America.
Dr. Cardoso and his colleagues were appointed to their respective positions at the Bank on September 15, 2023, and their confirmation by the Senate remains pending. The financial community and stakeholders will be closely monitoring their actions and decisions as they take on their crucial roles in shaping Nigeria’s monetary and financial policies.
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