- * Forwards His List of New CBN Management Team to Senate For Approval
By Kayode Oguntola (Finance Correspondent, in Abuja)
Aston University trained Banker and chartered stockbroker, Dr Micheal Olayemi Cardoso, has been appointed as new Governor of the Central Bank of Nigeria (CBN) by President Bola Ahmed Tinubu.
A statement on Friday, September 15, 2023 by the Presidential Chief Spokesman, Chief Ajuri Ngelale, said Cardoso's appointment is for an initial term of five years pending his confirmation by the Nigerian Senate.
The Presidential statement also said the appointment of the CBN Governor, 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.
President Tinubu also has 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 Nigerian Senate.
The new appointees are: Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala M. Bello.
The statement, however, said Tinubu expects the new nominees to successfully implement critical reforms at the Central Bank of Nigeria, in line with the President’s Renewed Hope agenda, which will boost the hope and confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward a sustainable growth and prosperity for all Nigerians.
The new CBN Governor, Dr Yemi Cardoso, hails from Lagos State. He 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 is Mr Felix Bankole Cardoso, 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 the leadership of Yemi Cardoso's father, Barclays successfully transformed into Union Bank of Nigeria, a wholly-owned Nigerian entity.
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.
Cardoso is a dedicated family man. He is married with five children and three grandchildren. His parents were descendants of Brazilian returnees and came from prominent families from Popo Aguda. NNL.
