President Bola Tinubu has appointed Olayemi Michael Cardoso as Governor of the Central Bank of Nigeria (CBN).
This was announced in a statement issued by Presidential spokesman, Ajuri Ngelale, on Friday.
Cardoso will serve 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).
Furthermore, President Bola Tinubu approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), their names are:
(1) Mrs. Emem Nnana Usoro
(2) Mr. Muhammad Sani Abdullahi Dattijo
(3) Mr. Philip Ikeazor
(4) Dr. Bala M. Bello
Cardoso attended Corona School Ikoyi and St. Gregory’s College in Lagos for his primary and secondary education, respectively.
He secured a Bachelor’s degree (B.Sc.) in Managerial and Administrative Studies from Aston University in 1980. He later furthered his education at the Harvard Kennedy School of Government (HKS), 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 sector, 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.
He garnered recognition from various educational institutions, including as:
•Trustee of the Harvard club of Nigeria from 2022 till present
•Trustee of the Harvard Kennedy School Nigeria Alumni from 2020 till present
•Board advisor of the Lagos Business School from 2019 till present
•Trustee of St. Augustine University from 2018 till present
•Global Alumni-elected Board member of Harvard Kennedy School from 2006-2010
The president expects that the nominees will 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.