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Newly Appointed CBN Governor. Michael Cardoso Officially Assumes Office

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Mr Olayemi Michael Cardoso, the newly nominated Central Bank of Nigeria—CBN governor, has assumed office.

This was confirmed in a statement released by the apex bank.

It also announced the resignation of its embattled governor, Godwin Emefiele. His resignation is coming three months after he was suspended from office by President Bola Tinubu.

Olayemi Michael Cardoso who was nominated by President Bola Ahmed Tinubu, will act as governor of the Central Bank of Nigeria, pending his confirmation by the Senate.

The statement added that the Deputy-Governors-Designate of the bank have also assumed duty, in acting capacities sequel to the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.


‘’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, and have since settled down to the task of administering monetary and financial sector policies of the Federal Government.”

An Economic and Development Policy Advisor, Financial Sector Leader, former Chairman of Citi Nigeria and Commissioner for Economic Planning and Budget in Lagos, Cardoso brings over three decades of managerial experience on board.


He is an alumnus of Aston University, Birmingham, United Kingdom, where he studied managerial and administrative studies. He also holds a Master’s degree in Public Administration from the Harvard Kennedy School, United States of America.

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