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Dr Olayemi Michael Cardoso was on Friday nominated by President Bola Tinubu as the new Governor of the Central Bank of Nigeria (CBN), pending confirmation by the Nigerian Senate.
TheNewsGuru.com (TNG) reports Cardoso, the former chairman of Citibank Nigeria, is a distinguished leader in the financial and development sectors with over 30 years of experience in private, public and not-for-profit organisations.
With diverse corporate governance experience, Cardoso has also sat on the boards of Nigerian subsidiaries of Texaco and Chevron and chaired the board of EFInA, a financial sector development organisation supported by the Bill and Melinda Gates Foundation.
Cardoso served in government as the first Commissioner for Economic Planning and Budget for Lagos State, where he championed the financial reform process which led to the State’s development of independent tax revenues. He was a member of the Economic Advisory Council, domiciled in the office of the Vice President from 2015 to 2019.
In his capacity as a consultant and policy expert, Cardoso has advised and collaborated with major international development organisations including the World Bank, Ford Foundation, UN Habitat, World Health Organization and the Swedish Development Foundation.
According to information available on his LinkedIn profile, the new CBN Governor nominee started his banking career with Citibank where he eventually rose to the position of Vice President, leaving to co-found Citizens International Bank, where he was an Executive Director for eight years.
He is a member of the Belgian-based Cities Alliance Think Tank, which aims to shape and influence policy and decision-making on urban development in Africa and has strong relationships with key international donor agencies.
He is also a member of the Board of Advisors of Lagos Business School and a founding board member of Nigeria National Advisory Board for Impact Investing.
Cardoso’s first degree is from the University of Aston, United Kingdom and his second degree is from Harvard University, USA. He obtained a Master’s in Public Administration from Harvard Kennedy School, where he was a Mason Fellow.
In 2017, he was awarded an honorary doctorate degree in business administration by his alma mater, Aston University, in recognition of “his outstanding contributions to business and society”. He is also a recipient of the Global Distinguished Alumni award from Citi.