BREAKING: Tinubu Appoints former Economic Planning Commissioner,  Yemi Cardoso As CBN Governor

Ahmed Ajikobi

President Bola Tinubu on Friday, appointed Yemi Cardoso as Governor of the Central Bank of Nigeria (CBN).

This was announced in a statement issued by Presidential spokesman, Ajuri Ngelale.

The statement said the appointment is subject to confirmation of the Senate.

“President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.”

“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 (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.

*Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate, as listed below:

“(1) Mrs. Emem Nnana Usoro

(2) Mr. Muhammad Sani Abdullahi Dattijo

(3) Mr. Philip Ikeazor

(4) Dr. Bala M. Bello

In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.”

Mr. Cardoso holds a Master in Public Administration & Management from Harvard University. He was former Commissioner for Economic Planning and Budget in Lagos State. He is a professional banker with several years experience with Chase Bank, Citibank, Citizens International Bank amongst others and was Vice-President at Citibank and executive director at Citizens International Bank.

He is director on the board of several Companies and is currently The Managing Partner of FBC Associates Limited.