President Bola Tinubu on Friday nominated Olayemi Michael Cardoso as the substantive Governor of the Central Bank of Nigeria (CBN).
Declaring his nomination on Friday, the Presidential spokesperson, Ajuri Ngelale said, “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,”
Tinubu also nominated persons to serve as deputy governors of the apex bank 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”.
Cardoso will replace the Acting Governor of the CBN Folashodun Shonubu if confirmed by the Senate.
Here are the 10 quick facts about the CBN Governor-nominee, Cardoso:
Olayemi Cardoso is from Lagos State.
His parents were descendants of Brazilian returnees who came from prominent families in Popo Aguda.
His father, Felix Bankole Cardoso, was the first indigenous Accountant-General of the Federation of Nigeria in 1963.
He attended Corona School Ikoyi and St. Gregory’s College in Lagos for his primary and secondary education respectively.
He obtained a Bachelor’s degree (B.Sc.) in Managerial and Administrative Studies from Aston University in 1980.
He earned a Master’s degree in Public Administration in 2005 as a Mason Fellow.
He served as the former chairman of Citibank Nigeria.
Cardoso also served as the Commissioner for Economic Planning and Budget in Lagos State when President Tinubu was the governor of the state.
He is the founding chairman and co-chair of the Ehingbeti Summit, the Lagos state economic summit.
He is married with five children and three grandchildren.