Cardoso Named AFC Board Chairman

Olayemi Cardoso, governor of the Central Bank of Nigeria, has been appointed chairman of the Africa Finance Corporation’s board, succeeding Ireti Samuel-Ogbu, who will remain a board member. The corporation announced the appointment on October 14. Cardoso has led Nigeria’s central bank since September 2023 and brings experience in banking, investment management, economic policy and public service, the AFC said. Before becoming governor, Cardoso served for 12 years as chairman of Citibank Nigeria and was Lagos State commissioner for economic planning and budget. He holds a degree from Aston University and a master’s in public administration from Harvard Kennedy School. AFC President and Chief Executive Officer Samaila Zubairu said Cardoso’s experience would support the corporation’s efforts to mobilise African capital for infrastructure and industrial development. He also thanked Samuel-Ogbu for her service as board chair. Cardoso said he looked forward to working with the board, management and member states, and linked Africa’s economic stability to expanding productive capacity.