CBN Confirms Emefiele’s Resignation As Cardoso Assumes Office

CBN has confirmed Emefiele’s resignation as Cardoso assumes office.

Glamtush reports that the nominee for the position of governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, officially assumed office on Friday.

This online platform understands that the Central Bank of Nigeria (CBN) has confirmed the resignation of Mr Godwin Emefiele as its governor, three months after being suspended from office by President Bola Tinubu.

According to a statement by Dr. Isa AbdulMumin, the Director, Corporate Communications at the CBN, Cardoso assumed duty as the acting CBN governor pending confirmation by the Senate, who are currently on their annual recess.

It was also noted that the deputy governor-designates have assumed office following the resignation of the previous deputies.

The statement read, “Dr. Olayemi Michael Cardoso, recently nominated by President Bola Ahmed Tinubu, has on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the Central Bank of Nigeria, pending his confirmation by the Senate. This follows the resignation of Mr Godwin Emefiele as Governor of the CBN.

“Similarly, the Deputy-Governors-Designate have also assumed duty, in acting capacities, sequel to the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.”

The deputy-governors-designate are Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello.

The statement noted that Dr. Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the Bank’s Head Office in Abuja on Friday, September 2023.

It added that they have since settled down to the task of administering monetary and financial sector policies of the Federal Government.

The Senate spokesperson and the Chairman, the Senate Committee on Media and Publicity, Yemi Adaramodu, said earlier that the Senate would screen the governor and other executives of the CBN as soon as it gets an Executive Communication to that effect upon its resumption from its annual recess.

Cardoso was the former chairman of Citibank Nigeria. He is a distinguished leader in the financial and development sectors with over 30 years’ experience in the private, public and not-for-profit organisations.

He served in government as Commissioner for Economic Planning and Budget for Lagos State, where he championed the financial reform process which led to the state’s development of independent tax revenues.