New Leadership at the Central Bank of Nigeria as CBN Governor and Deputies Assume Office

The Central Bank of Nigeria (CBN) witnessed a significant shift in its leadership as Dr. Olayemi Michael Cardoso assumed the role of acting Governor, alongside the newly appointed Deputy-Governors-Designate. This transition comes in the wake of the resignations of Mr. Godwin Emefiele as CBN Governor, as well as Deputy Governors Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora.

The announcement was made in a statement released by the CBN, signed by Dr. Isa AbdulMumin, the Director of Corporate Communications. According to the statement, "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 transition follows the resignation of Mr. Godwin Emefiele, who previously held the position of CBN Governor.

The new Deputy-Governors-Designate have also stepped into their roles in acting capacities. They assumed their positions following the formal resignations of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Adamu, and Dr. Kingsley Obiora, who served as Deputy Governors of the CBN.

To mark this significant change in leadership, Dr. Cardoso and his colleagues took their oaths of office at a brief ceremony held at the CBN's Head Office in Abuja. This ceremony signifies the beginning of their responsibilities in overseeing the monetary policy and financial stability of the nation.

The leadership transition at the CBN represents a pivotal moment for Nigeria's financial landscape, with high expectations for the new leadership to continue the central bank's crucial role in shaping the country's economic policies and financial stability. The confirmation of Dr. Cardoso and his team by the Senate will be the next step in solidifying their positions within the institution.