Nine things to know about Yemi Cardoso, newly appointed CBN Governor

President Bola Tinubu confirmed Dr. Olayemi Michael Cardoso’s nomination as the new Governor of the Central Bank of Nigeria for a five-year term in the first instance on Friday, pending Senate confirmation.

They include Mrs. Emem Usoro, Mr. Muhammad Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

In this report, Newsclick Nigeria highlights the things you need to know about the new CBN governor.

1. Olayemi Cardoso, a Lagosian, grew up in Lagos and attended Corona School Ikoyi and St. Gregory’s College all in Lagos for his primary and secondary education, respectively.
2. His father, Felix Bankole Cardoso, was the first indigenous Accountant-General of the Federation of Nigeria in 1963; and, the first indigenous Vice Chairman and Managing Director of Barclays Bank of Nigeria shortly after joining the bank in 1972. Under his leadership, Barclays successfully transformed into Union Bank of Nigeria, a wholly-owned Nigerian entity
3. Yemi Cardoso completed his undergraduate studies upon obtaining a Bachelor’s degree in Managerial and Administrative Studies from Aston University in 1980.
4. He later furthered his education at the Harvard Kennedy School of Government, earning a Master’s degree in Public Administration in 2005 as a Mason Fellow.
5. In recognition of his outstanding achievements in the private and public sectors, Cardoso was granted a Doctorate in Business Administration (DBA) (honoris causa) by Aston University in 2017. He is also esteemed as a Fellow of the Chartered Institute of Stockbrokers.
6. Olayemi Michael Cardoso is a Nigerian banker, chartered stockbroker and public policy expert.
7. He has served for over four decades in the public, private and development sectors as a leader and innovator.
8. Among his most impactful roles are: Commissioner in the Lagos State Ministry of Economic Planning and Budget; Chairman of the board of the African Venture Philanthropy Alliance and, most recently, Chairman of Citibank Nigeria Ltd for 12 years, until his resignation in 2022.
9. Cardoso is a dedicated family man. He is married with five children and three grandchildren. His parents were descendants of Brazilian returnees and came from prominent families from Popo Aguda.

Tinubu also authorised the appointment of four new Deputy Governors of the apex bank for a five-year term in the first instance, subject to Senate confirmation.