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Wednesday, December 6, 2023

BREAKING: Tinubu appoints Yemi Cardoso as new CBN governor

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President Bola Ahmed Tinubu has appointed Yemi Cardoso as Governor of the Central Bank of Nigeria (CBN).

This was announced in a statement issued by Presidential spokesman, Ajuri Ngelale, on Friday, September 15, 2023.

According to the statement, the appointment is for a term of five years at the first instance, pending his confirmation by the Senate.⁣

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The statement  titled ‘President Tinubu nominates new CBN governor and management team for senate screening and confirmation,’ partly reads; “this directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and four Deputy Governors for the Central Bank of Nigeria, subject to confirmation by the Senate of the Federal Republic of Nigeria.”

Tinubu also approved the nomination of four new Deputy Governors of the Central Bank of Nigeria, for a term of five years at the first instance, pending their confirmation by the Senate.⁣


They include Mrs. Emem Usoro, Mr. Muhammad Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello. ⁣

This comes barely three months after the president suspended Godwin Emefiele as the apex bank governor.

Yemi Cardoso is a Nigerian banker, chartered stockbroker, and public policymaker. He served as the former chairman of Citibank Nigeria.

He was also Commissioner for the Lagos State Ministry of Economic Planning and Budget. Cardoso studied managerial and administrative studies at Aston University, where he obtained a Bachelor of Science (B.Sc.) degree.

He has a Master’s degree from the Harvard Kennedy School in public administration and former chairman of the board of Citibank Nigeria.

He is also a former executive lead at the Harvard Kennedy School Alumni Association.

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