List of Nigerian Presidents and the CBN Governors They Worked With

List of Nigerian Presidents and the CBN Governors They Worked With

FCT, Abuja - Since its establishment in 1958, the Central Bank of Nigeria (CBN) has produced 13 governors, saddled with the responsibility of managing financial, and monetary activities in the country.

Every CBN governor was appointed by a Head of State or President, with whom they worked to chart a cause for the economic direction of the country.

List of CBN Governors and Presidents they worked with while in office
List of CBN Governors and Presidents they worked with while in office Photo Credits: :@Mr_JAGs/ Central Bank of Nigeria/Mr Peter Obi
Source: Facebook

Below are the names and dates of past CBN governors and the Heads of State or Presidents they worked with since its inception in 1958:

Roy Pentelow Fenton

A Briton, Roy Pentelow Fenton, became the first CBN governor after his appointment by the colonial administration on July 24, 1958.

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He was in charge of financial activities in Nigeria for 5 years until he left on July 24, 1963.

Aliyu Mai-Bornu

Alhaji Aliyu Mai-Bornu succeeded Roy to become the first indigenous CBN governor in Nigeria.

He was appointed by the government of Alhaji Tafawa Balewa on July 25, 1963, and left office on June 22, 1967.

Mallam Mai Bornu is an economist from Bristol University in the United Kingdom

Clement Nyong Isong

Another economist to occupy the office of the CBN governor was Dr. Clement Nyong Isong.

Gen Yakubu Gowon appointed Isong as the CBN governor on August 15, 1967, during the Civil War.

The economics scholar from the Iowa Wesleyan College, Iowa, in the United States of America, was the CBN governor for eight years when he left the office on September 22, 1975.

Isong was the CBN governor to become governor of a state. He was the first civilian governor of the old Cross River State in the second republic.

Adamu Ciroma

According to a report on the CBN website, Mallam Adamu Ciroma was the 4th CBN governor and served from September 24, 1975, to June 28, 1977.

He was the CBN governor during the late Gen Muritala Mohammad and Olusegun Obasanjo’s regime.

Ciroma was later appointed as the Minister of Finance under President Olusegun Obasanjo’s administration from June 1999 till May 2003.

Olatunde Olabode Vincent

Another economist, Ola Vincent, took over from Ciroma as the 5th CBN governor on June 28, 1977.

He was in office for 5 years when he left on June 28, 1982.

Olatunde served the Obasanjo's regime and the administration of former president, Shehu Shagari.

He was a Vice President of the African Development Bank (AfDB) between 1966 to 1973, before taking over the monetary affairs of Nigeria.

Abdulkadir Ahmed

Alhaji Abdulkadir Ahmed was appointed on June 28, 1982, by Shehu Shagari’s government. He served under four governments, making him the longest-serving CBN governor.

Ahmed was CBN governor under Shagari’s government, Muhammadu Buhari’s regime, Ibrahim Babangida’s regime, and Sani Abacha’s regime.

Late Abacha replaced him as CBN governor on September 30, 1993.

Paul Agbai Ogwuma

Dr. Paul Agbai Ogwuma replaced Ahmed, the longest-serving CBN governor, on October 1, 1993, when the military regime of Gen. Sani Abacha appointed him to occupy the office.

On assumption of office as Nigeria’s president on May 29, 1999, Obasanjo’s administration replaced him as the head of the CBN.

Joseph Oladele Sanusi

The 8th CBN governor and the first in the fourth republic was Chief Oladele Sanusi. The accomplished Accountant and Banker was appointed by Obasanjo on May 29, 1999, and left the position on May 29, 2004

The Ondo state indigene was appointed as the first Chief Executive of the Securities and Exchange Commission in 1978.

Chukwuma Charles Soludo

In line with the appointment of economics as CBN governor, Professor Charles Chukwuma Soludo was appointed the 9th CBN governor on May 29, 2004.

He served for 5 years under Obasanjo's administration and left office on May 29, 2009

Soludo became the second Nigerian to be a CBN governor and a state governor. He was sworn in on March 17, 2022, as Anambra state governor

Sanusi Lamido Sanusi

Mallam Sanusi Lamido Sanusi was suspended by Goodluck Jonathan’s administration on February 20, 2014, over financial recklessness and misconduct.

Sanusi had accused Jonathan’s administration of failing to remit $20 billion in revenue from oil sales to the federation account.

He was appointed as the CBN governor on June 3, 2009, by late Umaru Musa Yar'adua.

Sanusi introduced the Bank Verification Number (BVN) into the banking sector in Nigeria

Sarah Alade

Sarah Alade is the only woman to have served as CBN governor, and she did it in an acting capacity.

Alade took over the leadership of the CBN after the sack of Sanusi on February 20, 2014.

The then-deputy governor of the apex bank held the position until June 3, 2014, when a new governor was appointed

Godwin Emefiele

Godwin Emefiele was appointed the CBN governor by Goodluck Jonathan on June 3, 2014, and became the first CBN governor to be re-appointed on May 9, 2019, since the return of democracy in 1999 for another five-year term by the immediate former president Muhammadu Buhari.

Emefiele, however, did not complete his second term in office as he was suspended by President Bola Tinubu on Friday, June 9, 2023.

Olayemi Cardoso

Dr. Olayemi Michael Cardoso was nominated as the new Governor of the Central Bank of Nigeria (CBN) on Friday, September 15.

Cardoso's appointment comes three months after President Bola Ahmed Tinubu suspended Godwin Emefiele as the governor of the apex bank.

The new CBN governor's appointment is pending confirmation by the Senate.

Tinubu nominates Yemi Cardoso as new CBN governor

Meanwhile, reported that President Bola Ahmed Tinubu has nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN), who will replace the embattled Godwin Emefiele suspended months ago.

The nomination of Cardoso was made known on Friday, September 15, via a statement issued by Ajuri Ngelale, the special adviser to the President on media and publicity.

Olayemi Cardoso: 5 interesting things to know about new CBN governor

President Bola Ahmed Tinubu nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

The nomination of Cardoso for a five-year term is pending confirmation by the Nigerian Senate.

Here are some of the interesting things you need to know about the new CBN governor.


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