Home Finance Senate Confirms Yemi Cardoso as CBN Governor

Senate Confirms Yemi Cardoso as CBN Governor


The Senate has confirmed the appointment of Yemi Cardoso as the Central Bank of Nigeria (CBN) governor and four others as deputy governors.

They were confirmed on Tuesday following a successful screening by the upper chamber of the National Assembly.

The deputy governors confirmed alongside the Governor include Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala Bello.

“The nomination of Olayemi Cardoso is hereby confirmed as governor of the Central Bank of Nigeria (CBN),” Godswill Akpabio, Senate President, said.
Before the confirmation, Cardoso promised to embrace compliance, assuring that under his leadership, the CBN would remain apolitical.

“I believe that the Central Bank under our watch will have no choice but to embrace a culture of compliance. We will not wait for oversight to come and tell us what to do. We will ensure that by the time the system is passing through us, we catch it and we deal with it,” said Cardoso.

According to him, “That is a cultural shift, a change in mindset, but we will make sure it happens.

Cardoso’s confirmation comes weeks after President Bola Tinubu nominated him as the acting CBN governor and four others as deputies.

He assumed office last week, replacing the then-acting governor of the CBN Folashodun Shonubi, who was appointed followed the suspension and resignation of Godwin Emefiele as the apex bank boss. The Delta-born began his reign in 2014 but got backlash owing to the naira redesign policy.

Emefiele, who was later arrested by the Department of State Services (DSS) but released on bail, is being tried on an alleged N6.9 billion fraud.

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