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How Emefiele’s resignation as governor of the CBN made room for Cardoso

Mide by Mide
September 17, 2023
in News
Reading Time: 1 min read
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How Emefiele’s resignation as governor of the CBN made room for Cardoso
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A recent revelation has shown that Godwin Emefiele, the Central Bank of Nigeria (CBN) governor who is now on leave, resigned from his position in August before President Bola Tinubu chose Olayemi Cardoso as his replacement.

Reuters reports that some government sources said the suspended CBN governor resigned, which made it possible for Cardoso to be selected to succeed him.

President Tinubu suspended Emefiele in June, just one month after he succeeded previous President Muhammadu Buhari.

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The Department of State Service (DSS) later detained and arrested the suspended CBN governor. He is also dealing with another legal case from the DSS after being accused of procurement fraud by the secret police.

According to Ajuri Ngelale, the spokesperson to President Tinubu, the names of Cardoso and four other nominees as deputy governors of the apex bank were forwarded to the Senate for screening and confirmation.

The statement reads in part:

“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.”

However, the CBN did not respond to the request on whether the suspended CBN governor and his deputies resigned and the President’s spokesperson, Ngelale, declined to comment on the development.

Tags: AjuriCardosoCBNEmefieleTINUBUYemi cardoso
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