Chika Mbonu, Arise Economic Analyst

How Cardoso Refused To Be Vice President, Lagos State Governor – Mbonu

How Cardoso Refused To Be Vice President, Lagos State Governor – Mbonu

By PHC Telegraph

Chika Mbonu. Arise TV Analyst (L) and Dr Reuben Abati (R) on Sunday

An Arise TV economic analyst, Chika Mbonu, has disclosed how the newly appointed Governor of the Central Bank of Nigeria turned his back on two juicy political positions.

Mbonu who was a guest Sunday said Godwin Emefiele’s replacement at the CBN shunned an offer to be governor of Lagos State a few years ago.

He said the offer of the governorship of Lagos State was made to Yemi Cardoso by the leader of the Lagos team, Asiwaju Bola Tinubu, but the conservative  banker declined to take it.

Cardoso, Mbonu equally revealed, refused to be the nation’s Vice President when it was offered to him by Tinubu.

Oluyemi Cardoso named new Governor of Central Bank of Nigeria.

The commercial banker’s refusal to accept the position of Vice President under Muhammadu Buhari led to the decision to field Professor Yemi Osinbajo.

Osinbajo went on to serve as Vice President for two terms and even ran in the presidential primaries against his benefactor, Bola Tinubu at the last APC Convention.

Mbonu expressed confidence that the CBN Governor whose father was Nigeria’s first Accountant General in the  sixties would be able to successfully manage the apex bank.

He dismissed arguments by critics that Cardoso may not function efficiently as governor of the Banker’s Bank because of his background as a commercial banker.

Mbonu urged Nigerians to allow Tinubu to appoint whosoever he would like to work with in order to ensure that he is able to prosecute his policies to logical conclusion

Also speaking on Arise TV, Professor David Aworawo said Tinubu was about to make the same kind of mistake that former President Muhammadu Buhari made in his choice of appointees.

Aworawo observed that Tinubu is busy drafting people from his own part of the country into office to the detriment of  other Nigerians.

The Professor said it was not too late for Tinubu to correct imbalances that are gradually coming to the surface.

Cardoso who will face the Senate on a date to be announced has in principle replaced the Acting Governor of the CBN Folashodun Shonubi.

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Ex-Acting CBN Governor, Folashodun Shonubi, in Abuja on Tuesday, July 25, 2023


According to a statement issued by Ajuri Ngelale,  Presidential Spokesman, “President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.”

Aside from the Lagos-born Cardoso, Tinubu appointed four deputy governors in “conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the governor and four (4) deputy governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria”

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