Dr. Olayemi Michael Cardoso’s nomination as the new governor of the Central Bank of Nigeria for a term of five years at the start was approved by President Bola Tinubu on Friday, pending the Senate’s confirmation.
In addition, Tinubu gave his approval to the nomination of four new Deputy Governors of the top bank, who will serve for a term of five years initially, pending Senate confirmation.
Who is CBN Gov, Dr Olayemi Michael Cardoso?
In this post, We highlights the things you need to know about the new CBN governor.
Educational history
Cardoso’s quest of education marked the beginning of his rise to fame. He graduated from Aston University in the UK with a Bachelor of Science (B.Sc.) in managerial and administrative studies. He continued to pursue knowledge, eventually earning a Master’s in public administration from the esteemed Harvard Kennedy School.
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An excellent banking career
Mr. Cardoso’s path in the private sector was defined by an excellent career with prestigious financial institutions. With Citibank, he began his financial career and soon advanced to Vice President. Later, he helped co-found Citizens International Bank, where he worked for eight years as the Executive Director. His later positions in the public sector benefited greatly from his financial sector skills.
Leadership and public service
Yemi Cardoso was selected as the initial Commissioner for Economic Planning and Budget for Lagos State in 1999, as Nigeria moved to civilian democratic governance. In this capacity, he was essential in developing and directing the execution of a plan that sparked economic growth in Lagos, one of the biggest megacities on earth.
During his administration, Cardoso implemented important changes that increased the state’s financial independence and tax revenue collection. His bold leadership helped Lagos transform and experience economic development. He also led projects like the Public-Private Partnerships (PPP), Security Trust Fund, and Medium-Term Expenditure Framework (MTEF).
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