President Bola Tinubu has approved the nomination of Dr. Olayemi Cardoso as the new Governor of the Central Bank of Nigeria for a term of five years at the first instance, pending his confirmation by the Senate.
According to a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, “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,” revealed on Friday.
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.
Olayemi Cardoso, a Lagosian, grew up in Lagos and attended Corona School Ikoyi and St. Gregory’s College all in Lagos for his primary and secondary education, respectively.
His father, Felix Bankole Cardoso, was the first indigenous Accountant-General of the Federation of Nigeria in 1963; and, the first indigenous Vice Chairman and Managing Director of Barclays Bank of Nigeria shortly after joining the bank in 1972. Under his leadership, Barclays successfully transformed into Union Bank of Nigeria, a wholly-owned Nigerian entity
Yemi Cardoso completed his undergraduate studies upon obtaining a Bachelor’s degree in Managerial and Administrative Studies from Aston University in 1980.
He later furthered his education at the Harvard Kennedy School of Government, earning a Master’s degree in Public Administration in 2005 as a Mason Fellow.
In recognition of his outstanding achievements in the private and public sectors, Cardoso was granted a Doctorate in Business Administration (DBA) (honoris causa) by Aston University in 2017. He is also esteemed as a Fellow of the Chartered Institute of Stockbrokers.
Olayemi Michael Cardoso is a Nigerian banker, chartered stockbroker and public policy expert.
He has served for over four decades in the public, private and development sectors as a leader and innovator.
Among his most impactful roles are: Commissioner in the Lagos State Ministry of Economic Planning and Budget; Chairman of the board of the African Venture Philanthropy Alliance and, most recently, Chairman of Citibank Nigeria Ltd for 12 years, until his resignation in 2022.