The former banker was educated in the United States and graduated from Harvard.
“President Bola Tinubu approved the appointment of Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN),” the Presidency said in a statement.
Olayemi Michael Cardoso was also a former director of Citibank in Nigeria, according to local media.
MPs still have to approve the appointment of Cardoso and the new board of directors of the Central Bank.