The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the apex bank will keep interest rates high until inflation subsides by implementing orthodox policies. Inflation in Nigeria remains stubbornly high at 33.2 per cent, the highest in three decades, while food inflation is higher still at 40 per cent. In an interview with the Financial …

The Central Bank of Nigeria (CBN) is not defending the naira with foreign reserves, its Governor Olayemi Cardoso, said yesterday at the ongoing Spring Meetings of the International Monetary Fund (IMF)/World Bank in Washington DC. Cardoso said: “Defending the naira seems to be a prevalent theme. Let me be very clear: it is not our intention to defend the naira”. …

In an article I wrote some months ago titled, ‘Opportunists, Scavengers and the Attacks on Mele Kyari’, I drew attention to a coordinated attack on the Group Chief Executive Officer of NNPCL Limited, Malam Mele Kyari. At the time, an anti-Kyari campaign had been initiated in the media by certain individuals whose aim was to get the helmsman relieved of …

The Senate Ad-hoc Committee probing how the N30 trillion Ways and Means loans were obtained from the Central Bank of Nigeria (CBN) and spent by the former President Muhammadu Buhari-led administration says it has uncovered some infractions in the process of obtaining the overdraft. As such, the committee said it had concluded plans to summon the current CBN Governor, Olayemi …

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that foreign exchange backlogs have been cleared in all the banks except for five of them. Cardoso said this on Thursday during an investor call facilitated by the Nigerian Exchange Group, during which he said that the remainder of the banks’ FX backlogs would be cleared in …

Those who know Mr. Olayemi Cardoso will agree he got his current job as the Governor of Central Bank of Nigeria (CBN) on a platter of solid professional background and strong personal attributes. His pedigree is rich as his character is unsullied. Cardoso had a remarkable private sector career where he shone brilliantly in banking, stockbroking and consulting. He also …

The Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso has called on Nigerians to moderate the demand for dollars, consumption and usage of foreign goods, warning that as a country, we must address the supply side of Forex as it has kept the nation’s economy in a narrow bucket. Cardoso noted that without moderation of demands on USD, the …

The Senate, yesterday, summoned governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, to appear before it next Tuesday on the state of the economy and free fall of the naira in the forex market. The summoning of the governor was disclosed by the chairman of the Committee on Banking, Insurance and other Financial Institutions, Senator Adetokunbo Abiru. …

The 1984 alumni and pioneer set of CitiBank Nigeria held a private dinner in Ikoyi Lagos at the weekend to celebrate one of their own, Dr. Olayemi Cardoso on his appointment as the Governor of the Central Bank of Nigeria (CBN). Cardoso served as Chairman of the bank for 12 years and retired last year. At the time the accountant …

It is no longer news that Dr. Olayemi Cardoso, obviously one of the very few reserved institutionalists in Nigeria’s banking sector (and his cohorts) has taken charge at the Central Bank of Nigeria (CBN). To demonstrate the team’s seriousness and commitment, the media reported that the team had resumed at the apex bank, even before the appointees were confirmed by …