Cardoso Assumes Office As CBN Acting Governor, Emefiele, Shonubi, Others Resign

The New Diplomat
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By Ken Afor

Dr Olayemi Cardoso, nominee for the Governor of the Central Bank of Nigeria (CBN), has officially assumed office in acting capacity.

This was contained in a statement by Dr. Isa AbdulMumin, Director, Corporate Communications at the CBN.

According to AbdulMumin, Cardoso assumed office on Friday pending confirmation by the Senate, who are currently in recess.

AbdulMumin noted that the deputy governor-designates nominated alongside Cardoso have assumed office.

Also, the previous deputies including Mr. Folashodun Shonubi, Mrs. Aishah Ahmad among others have resigned as well as the former governor, Godwin Emefiele.

The statement read, “Dr. Olayemi Michael Cardoso, recently nominated by President Bola Ahmed Tinubu, has on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the Central Bank of Nigeria, pending his confirmation by the Senate. This follows the resignation of Mr Godwin Emefiele as Governor of the CBN.

“Similarly, the Deputy-Governors-Designate have also assumed duty, in acting capacities, sequel to the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.”

Cardoso will be working with Emem Usoro, Muhammad Abdullahi-Dattijo, Philip Ikeazor, and Bala Bello pending their confirmation by the Senate.

The new acting CBN governor and his deputy-governors-designate were administered with the oaths of office at a brief ceremony held at the Bank’s Head Office in Abuja on Friday, September 2023.

It would be recalled that Cardoso assumed office 14 weeks after the suspension of Emefiele over allegations of terrorism and gross abuse of office by the Department of State Services (DSS).

The former apex bank chief whose initial charge was dropped was charged again with two counts of illegal possession of firearms and ammunition.

He was granted bail in the sum of N20 million with one surety in like sum.

Subsequently, Emefiele alongside Mrs Ramalan-Yaro, and her company, April 1616 Investment Limited were accused of conspiracy and procurement fraud up to the tune of N6.9 billion.

The said money was allegedly used to purchase a fleet of about 100 posh vehicles and armoured buses.

The alleged corrupt transactions took place between 2018 and 2020, according to the charges.

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