The Board of Governors of the Central Bank (CBN) resign to pave way for President Bola Tinubu’s brand new Board.

CBN spokesperson, Isa AbdulMumin, confirmed both the resignations and formal takeover in a statement today 22 September 2023.

AbdulMumin said Governor Godwin Emefiele, alongside his four deputies, resigned their positions.

The deputies who quit include Folashodun Shonubi, Mrs. Aishat Ahmad, Edward Lametek Adamu, and Dr. Kingsley Obioa.

Consequently, Olayemi Cardoso formally took over as governor in acting capacity today, he said.

He took the oath of office alongside four other Tinubu appointees whose appointments were announced on last Friday, 15 September.

The new deputies Mrs. Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Dr. Bala Muhamad Bello.

Profile of New CBN deputy governors

“Dr. Cardoso and his colleagues subscribed to the relevant oaths of office … and have since settled down to the task of administering monetary and financial sector policies of the Federal Government,” he said.

The New Deputy Governors

CBN now has four new deputy governors who were sworn in alongside Dr. Cardoso, the new Governor. The new deputy CBN governors appointed by President Tinubu include the following:

Mrs Emem Nnana Usoro

Mrs Emem Nnana Usoro was until today an Executive Director of the Bank at United Bank for Africa (UBA). She has over two decades experience in retail, commercial, corporate, and public sector banking.

Muhammad Sani Abdullahi

Muhammad Sani Abdullahi, aka Dattijo, was ex-Gov Nasiru el Rufai’s Commissioner for Budget & Planning, and one-time Chief of Staff. He is a development economist and one-time policy adviser in the office of the United Nations Secretary General.

Philip Ikeazor

Philip Ikeazor is a decorated banker with over 30 years of experience in the financial services industry. He has a solid portfolio of banking experience from being the CEO of Keystone Bank, CEO of Ecobank Kenya, and Executive Director of UBA.

Bala Mohammed Bello

Dr.  Bala Muhammed Bello began his career as an executive trainee with GT Bank, worked with Security and Exchange Commission as an analyst and with Sigma Pensions as Executive Director. President Buhari appointed him Executive Director at the Nigeria Export-Import Bank.

The Governor

The CBN offered the following profile about its new Governor in acting capacity:

“An Economic and Development Policy Advisor, Financial Sector Leader, former Chairman Citi Nigeria and Commissioner for Economic Planning and Budget in Lagos, Cardoso brings over three decades of managerial experience on board. He is an alumnus of Aston University, Birmingham, United Kingdom, where he studied managerial and administrative studies. He also holds a master’s degree in public administration from the Harvard Kennedy School, United States of America.”

Slug: CBN governors resign to pave way for Tinubu’s appointees

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