Cardoso officially takes over as CBN governor — Emefiele, deputy govs resigns

• Cardoso is taking the helm at the CBN at a time Nigeria’s economy is beset on all front by unfavourable macroeconomic indices, a situation that United States deputy treasury secretary, Wally Adeyemo, said will make it difficult for the nation to attract the kind of foreign direct investment it aggressively seeks and urgently needs

Olayemi Cardoso has officially assumed duty as the governor of the Central Bank of Nigeria (CBN)

The apex bank announced the development in a statement by its spokesperson, Isa Abdulmumin, on Friday.

According to the statement, Cardoso is resuming the position in acting capacity pending his confirmation by the Senate.

“This follows the resignation of Mr Godwin Emefiele as Governor of the CBN,” said Mr Abdulmumin.

He added, “Similarly, the deputy-governors-designate have also assumed duty, in acting capacities.”

Abdulmumin said this followed the resignation of Folashodun Shonubi, Aishah Ahmad, Edward Adamu, and Kingsley Obiora as deputy governors.

“Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the bank’s head office in Abuja,” Mr Abdulnumin said.

He said they had since settled down to the task of administering monetary and financial sector policies of the federal government.

President Bola Tinubu nominated Cardoso as CBN governor on September 15.

Tinubu also nominated Emem Usoro, Abdullahi Dattijo, Philip Ikeazor, and Bala Bello as deputy governors.

Cardoso is taking the helm at the CBN at a time Nigeria’s economy is beset on all front by unfavourable macroeconomic indices, a situation that United States deputy treasury secretary, Wally Adeyemo, said will make it difficult for the nation to attract the kind of foreign direct investment it aggressively seeks.