Meet Nigeria’s New Central Bank Chief

Nigerian President Bola Tinubu nominated Olayemi Michael Cardoso, a Harvard graduate and former Citibank executive, to be the next governor of the nation’s central bank. Cordoso’s appointment to the five-year term will require confirmation by the Senate, the presidency said in a statement on Friday. Cardoso is a Nigerian banker, chartered stockbroker, consultant and public policy expert. Over the course of his illustrious career, he has served in the public and private sectors as a leader with prominent roles. He is also the Founder of Africa Institute for Leadership and Public Administration (AILPA), an organization which focuses on promoting private-public partnerships. In his capacity as consultant and policy expert, Cardoso has advised and collaborated with major international development organizations including the World Bank, Ford Foundation, UN Habitat, World Health Organization and the Swedish Development Foundation. Another four people were nominated as deputy governors. Nigeria’s Central Bank has had no permanent head since June 9, when Governor Godwin Emefiele was suspended by the president and soon detained by the secret police. Fola Shodun Shonubi, the deputy governor in charge of operations at the bank, was appointed to lead it in an acting capacity.

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