A few months after the arrest of the former Central Bank governor as part of a criminal investigation, Nigerian President Bola Ahmed Tinubu appointed Olayemi Michael Cardoso to play his role.

Olayemi Michael Cardoso is a Harvard graduate. He, the former director of Citibank in Nigeria, The Presidency said in a statement that “President Bola Tinubu has approved the appointment of Dr. Olayemi Michael Cardoso as the new governor of the Central Bank of Nigeria (CBN). ”. In fact, the former governor of the Central Bank of Nigeria, Godwin Emefiele, who was criticised for his unorthodox methods, was arrested in June after being suspended by President Tinubu. It is still under investigation.