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Sunday, May 19, 2024

Cardoso Assumes Office As CBN Governor Amid Crumbling Naira

New Central Bank of Nigeria governor, Olayemi Cardoso, formally assumed duty on Friday amid a foreign exchange crisis.

A statement by Isa AbdulMumin, CBN’s Director of Corporate Communications says, Cardoso’s resumption is pending his confirmation by the Senate.

“This follows the resignation of Mr Godwin Emefiele as Governor of the CBN. Similarly, the deputy governors-designate have also assumed duty in acting capacities.

“This is a sequel to the formal resignation of Mr Folashodun Shonubi, Mrs Aishah Ahmad, Mr Edward Adamu and Kingsley Obiora as deputy governors.

“Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the bank’s head office in Abuja”.

He said that they had since settled down to administering the monetary and financial sector policies of the Federal Government.

Recall that President Bola Tinubu nominated Cardoso as CBN governor on September 15.

Tinubu also nominated Emem Usoro, Abdullahi Dattijo, Philip Ikeazor and Bala Bello as deputy governors.

Godwin Emefiele, the former CBN governor, had tendered his resignation while in the custody of the Department of State Security Service.

Tinubu suspended Emefiele in June and ordered a probe into the activities of the apex bank.

Meanwhile, the country’s currency continued to depreciate at the forex window, exchanging N985/$1 at the parallel market on Friday. – DP

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