UPDATED: Nigerian Senate Screens, Confirms New CBN Governor, Olayemi Cardoso

UPDATED: Nigerian Senate Screens, Confirms New CBN Governor, Olayemi Cardoso

  • Olayemi Michael Cardoso was at the senate on Tuesday, September 26, for screening as the Governor of the Central Bank of Nigeria (CBN)
  • Cardoso and the four deputy governorship nominees of the CBN were accompanied to the Red Chamber by the Senior Special Assistant to the President on National Assembly on Senate matters, Senator Abdullahi Gumel
  • Hours after grilling him, the federal lawmakers confirmed the ex-chairman of the Board of Citi Bank Nigeria and all the CBN nominees

FCT, Abuja - The Senate has begun the screening of Olayemi Cardoso, who is being considered for the position of substantive Governor of the Central Bank of Nigeria (CBN).

The screening process was initiated on Tuesday, September 26, following a motion moved by the majority leader of the senate, Opeyemi Bamidele, according to Vanguard newspaper.

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Olayemi Cardoso/Olayemi Cardoso CBN
The Senate is poised to confirm Olayemi Cardoso, who currently serves as the interim Governor of the CBN. Photo credit: @dipoaina1
Source: Twitter

Senate begins screening of Cardoso

The update was also noted by The Punch.

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Recall that Cardoso assumed duty as the CBN governor in an acting capacity last week pending his screening and confirmation by the Nigerian upper legislative chamber.

Who is Olayemi Cardoso?

Cardoso, an ally of President Bola Tinubu, was born on July 10, 1957, to parents of Brazilian descent, in Popo Aguda, Lagos state.

He attended St. Gregory's College, Lagos. The CBN chief obtained his Bachelor's degree from Aston University, Birmingham in the United Kingdom (UK). He also holds an MPA from Harvard.

Cardoso started as a chartered accountant in London. Then he joined Citibank in 1981 and had a stint in Ivory Coast (West Africa Regional Office), where he worked on debt restructuring.

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Cardoso co-founded Citizens International Bank.

He became commissioner for the ministry of economic planning and budget in Lagos, in 1999, a position he held until 2005. At the time Tinubu was the governor of Lagos state.

Emefiele: Tinubu receives report from investigator

In a piece of related news, Legit.ng reported that the interim report on the ongoing investigation of the activities of the CBN over the past eight years has been submitted to President Tinubu.

President Tinubu, in July, assigned the responsibility of probing the CBN to the former Chief Executive Officer of the Financial Reporting Council of Nigeria, Jim Obazee. Obazee was named the special investigator to probe and audit the activities of the Emefiele-led CBN over a series of allegations bordering on mismanagement of funds.

Source: Legit.ng

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