Board of the CBN

Mr. Olayemi Cardoso
Governor: Since 10/5/2023

Governor of The Central Bank of Nigeria

Mr. Olayemi Cardoso is the Governor of the Central Bank of Nigeria (CBN). The governor’s term began on October 5, 2023.

Prior to joining the CBN in 1997, he had spent more than 29 years in the field of commercial banking. His most notable accomplishment was his time as Chairman of Citibank Nigeria Ltd., a branch of the world’s largest international bank and also the longest-running internationally-based bank in Nigeria, from 2010 until 2022. From 1990 to 1997, the Executive Director was for Citizens International Bank Limited, and he was an associate principal at FBC Associates Limited from 1997 until 1999.

Cardoso was Commissioner of Economic Planning and Budget, Lagos State Government, from 1999 until 2005. In this capacity, he implemented the plan that spurred economic growth within Lagos State and pushed for reform, innovating state-of-the-art analytical and advisory mechanisms for improving government governance.

During his bank and public sector career, he was the chairman of both the Lagos Economic Summit Group (2020–2021) and the Africa Venture Philanthropy Alliance (AVPA) from 2014 to 2020. Also, he served as an official participant in the Economic Advisory Council of the Federal Republic of Nigeria (2015–2019) and the Cities Alliance Think Tank (2015–2018). Other positions in the private sector filled by Cardoso in his job include board membership of Chevron Oil plc (from 2005 to 2008), Nigerian National Advisory Board for Impact Investing, Lagos Business School, Institution of the Annual State Economic Summit, Johnson Products, as well as DRASA Health Trust.

Cardoso earned his degree from his university, the University of Aston in Birmingham, United Kingdom, in 1980, with a Bachelor of Science degree in managerial as well as administrative studies (concentration on accounting and finance), followed by a master’s degree in public administration as well as management (concentration in finance and economics) at Harvard University, Massachusetts, United States of America, in 2005. The late Mr. Cardoso was conferred with the title of Doctorate in Business Administration (DBA) (honoris causa) by the University of Aston in Birmingham in 2017 in recognition of his exceptional successes in both the public and private sectors. In addition, he’s a Fellow of the Chartered Institute of Stockbrokers.