Nigeria President Picks Banker Cardoso As Next CBN Governor

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 President Bola Tinubu has nominated the former head of Citibank in Nigeria, Olayemi Cardoso, to serve as the country’s new central bank governor, days before its next interest rate meeting, a presidential spokesperson said on Friday.

Government sources, said that Godwin Emefiele, who was suspended as central bank chief by Tinubu in June and later detained by state police and charged with procurement fraud, resigned last month, effectively clearing the way for Cardoso to replace him.

Tinubu sent Cardoso’s nomination to the Senate for confirmation alongside four new deputy governors, spokesperson Ajuri Ngelale said.

The central bank did not respond to a request for comment on whether Emefiele and his deputy governors had resigned. Ngelale declined to comment when asked about Emefiele’s resignation.

“The President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners,” Ngelale said in a statement.