President Bola Ahmed Tinubu approved on Friday the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN).
With Cardoso to serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate, here are seven things to know about the new CBN governor.
1. Chairman of the Board of Directors of Citibank Nigeria, Dr Yemi Cardoso, is a financial and development expert with over thirty years of experience in the private, public, and not-for-profit sectors.
2. His private sector experience includes an illustrious career with Citibank, Chase and Citizens International Bank.
3. In 1999 upon return to civilian democratic rule, Yemi was appointed the first commissioner/ cabinet member for economic planning and budget for Lagos State.
4. In this capacity, he wrote and monitored the implementation of the blueprint, which catalysed economic development in the world’s sixth-largest megacity.
5. He has served on the board of several leading companies, including Texaco and Chevron Oil Plc. He is a member of the Belgian-based Cities Alliance Think Tank which aims to shape and influence policy and decision-making on urban development in Africa and has strong relationships with key international donor agencies.
6. Yemi’s first degree is from the University of Aston, United Kingdom, and his second degree is from Harvard University, USA.
7. In 2017, he was awarded an honorary doctorate degree in business administration by his alma mater, Aston University, in recognition of “his outstanding contributions to business and society”.