Emefiele Resigned as Central Bank Governor in August – Report

The suspended governor of the Central Bank of Nigeria, Godwin Emefiele, resigned from his position in August paving the way for the nomination of Mr. Yemi Cardoso as the new apex bank head, reports Reuters.

Emefiele was suspended as central bank chief by President Bola Tinubu in June and later detained by state police and charged with procurement fraud.

However, government sources told Reuters that he had sent his resignation to Tinubu effectively clearing the way for Cardoso to replace him.

Reuters further said the central bank did not respond to its request to comment on whether Emefiele and his deputy governors had resigned together. Ngelale also declined to comment when asked about Emefiele’s resignation.

Tinubu on Friday sent the nomination of his former Lagos State commissioner, Cardoso, alongside four other deputy governors to the Senate for confirmation.

A press statement by presidential spokesman, Ajuri Ngelale, said Cardoso will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.

“In line with President Bola Tinubu’s Renewed Hope agenda, 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 in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all,” Ngelale stated.