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CBN Confirms Emefiele’s Resignation As Cardoso Takes Over As Acting Governor

By GWG Finance Editor



banking recapitalisation Cardoso

The Central Bank of Nigeria, CBN has confirmed the resignation of Mr Godwin Emefiele as governor of the apex bank and the emergence of Dr Yemi Cardoso as acting governor.

Also resigned were the four deputy governors who held sway under Emefiele. reports that Cardoso was recently nominated by President Bola Tinubu to take the position of the governor of the CBN.

A statement made available to disclosed that the four deputies also nominated by Tinubu have also taken over in acting capacity pending Senate confirmation.

Cardoso and the four acting deputy governors took over on Friday, September 22, 2023.

The four who resigned as deputy governors and were replaced according to a statement issued by the director of corporate communications, CBN, Dr Isa Abdulmumin were Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora.

“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 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.

It will be recalled that Dr. Cardoso and his colleagues were appointed to their respective positions at the Bank on September 15, 2023, subject to their confirmation by the Senate. reports that the resignation of Emefiele as governor of the CBN may have paved a political solution to the standoff in the institution.

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