CBN rebranding in full swing with new Acting Governor Cardoso

After the resignation of the former governor, Godwin Emefiele, the room has now been open for the recently nominated Dr. Olayemi Cardoso to officially assume the role of determining the best direction for the Central Bank of Nigeria.

Ayodele Johnson September 22, 2023

1 minute read

Joining Dr. Olayemi Cardoso are four deputies, Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello, who have also been introduced in an acting capacity.

By Ayodele Johnson

The Central Bank of Nigeria (CBN) is now wearing a new look with the Acting Governor Dr. Olayemi Michael Cardoso, taking charge of its affairs pending his final confirmation by senators.

After the resignation of the former governor, Godwin Emefiele, the room has now been open for the recently nominated Dr. Cardoso to officially assume the role of determining the best direction for the bank.

His assumption of duty was confirmed in a statement released on Friday, 22 September 2023, the day Director of Corporate Communications Isa AbdulMumin shared the news.

“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 (CBN), pending his confirmation by the Senate.

“This follows the resignation of Mr. Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN),” the statement partly reads.

Joining Dr. Cardoso are four deputies, Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello, who have also been introduced in an acting capacity.

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Perhaps in order to make room for the changes, the Monetary Policy Committee of the Central Bank of Nigeria had to defer its 293rd meeting that was scheduled for Monday and Tuesday, while promising a fresh announcement.

Until the Nigeria Senate reassembles by 26 September following a two-month annual recess, Cardoso and his new team will worry about coming up with strategies that address the country’s challenges with Forex, as well as helping President Bola Tinubu to implement drastic economic policies.

Due to ongoing limitations with dollar access, foreign airlines are having difficulties repatriating their earnings from ticket sales and that seems to be piling up by the day.

Ayodele Johnson

Ayodelé is a Lagos-based journalist and the Content and Editorial Coordinator at Meiza. All around the megacity, I am steering diverse lifestyle magazine audiences with ingenious hacks and insights that spur fast, informed decisions in their busy lives.