After months of brouhaha over what is regarded by many as the illegal detention of the suspended former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele by the Department of State Service (DSS) on the alleged orders of President Bola Ahmed Tinubu, the Federal Government has finally announced the sack of the embattled Emefiele from the apex bank, and appoints Dr Olayemi Cardoso as the substantive CBN governor
At last, the Federal Government has booted out the suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele from the apex bank as President Bola Ahmed Tinubu has appointed Dr. Olayemi Cardoso as the substantive CBN governor.
The former CBN governor, Emefiele, who was suspended in June 2023 days after Tinubu became president, has remained in the gulag of the Department of State Service (DSS) since then even as he been charged to court.
But in a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, on Friday, September 15, 2023 the nomination of Cardozo with four other deputies was dependent on their confirmation by the Senate.
Cardoso was a commissioner for Budget And Economic Planning during the first term of Tinubu as the Lagos State governor.
“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,”
The statement is titled, ‘President Tinubu nominates new CBN governor and management team for senate screening and confirmation.’
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.
“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,” the statement added
Dr. Yemi Cardoso is a financial and development expert with over thirty years of experience in the private, public and not-for-profit sectors.
His private sector experience includes an illustrious career with Citibank, Chase and Citizens International Bank.
He has served on the board of several leading companies including Texaco and Chevron Oil Plc.
He is a member of the Belgian-based Cities Alliance Think Tank which aims to shape and influence policy and decision-making on urban development in Africa and has strong relationships with key international donor agencies.
He has his first degree from the University of Aston, United Kingdom and his second degree from Harvard University, USA.
In 2017, he was awarded an honorary doctorate degree in business administration by his alma mater, Aston University, in recognition of “his outstanding contributions to business and society.
