Mr. Olayemi Cardoso

Mr. Olayemi Michael Cardoso is an accomplished banker, chartered stockbroker, economic policy expert and public administrator with over four decades of professional experience spanning banking, finance, economic development and public sector governance. He currently serves as the Governor of the Central Bank of Nigeria (CBN), a position he assumed in September 2023 following his appointment by President Bola Ahmed Tinubu. He brings extensive experience in financial sector leadership, corporate governance and economic policy formulation to the management of Nigeria's monetary and financial system.
His professional career began in London at Howard Tilly & Co., a firm of Chartered Accountants, before he joined Citibank in 1981. He subsequently worked at Citibank's regional office in Abidjan, Côte d'Ivoire, managing financial institution relationships and regional banking portfolios. In 1982, he joined Chase Merchant Bank in Nigeria, where he gained further experience in corporate banking and credit management. He became a founding member of Nigerian International Bank, now Citibank Nigeria Limited, in 1984, holding several senior management positions, including responsibility for the bank's major multinational corporate clients. He subsequently returned to Citibank Nigeria as Chairman in 2010, serving in that capacity for 12 years until 2022.
In 1999, Mr. Cardoso was appointed the pioneer Commissioner for Economic Planning and Budget in Lagos State under the administration of Governor Bola Ahmed Tinubu. He served until 2005, contributing to the development and implementation of economic policies, fiscal planning frameworks and institutional reforms that supported Lagos State's economic transformation. His responsibilities included strengthening budgetary processes, promoting investment and improving the coordination of economic development programmes.
Beyond his banking and government responsibilities, Mr. Cardoso has held several leadership and advisory positions in national and international organisations. He served as Chairman of Enhancing Financial Innovation and Access (EFInA), an organisation focused on expanding financial inclusion in Nigeria, and chaired the World Bank-supported Lagos Metropolitan Development and Governance Project. He has also served on the Board of Chevron Oil Nigeria Plc and held leadership responsibilities within the African Venture Philanthropy Alliance. His experience in economic development includes engagements with the World Bank, Ford Foundation, UN-Habitat and other international development institutions.
As Governor of the Central Bank of Nigeria, Mr. Cardoso has led reforms aimed at restoring monetary stability, strengthening financial system regulation and improving confidence in Nigeria's economy. Under his leadership, the CBN has introduced measures to improve transparency and efficiency in the foreign exchange market, address outstanding foreign exchange obligations and strengthen monetary policy implementation. He has also overseen the banking sector recapitalisation programme initiated in March 2024, alongside efforts to improve corporate governance, financial inclusion, payment systems and consumer protection.
Mr. Olayemi Cardoso is widely recognised for his contributions to banking, economic policy and institutional development in Nigeria. He continues to champion monetary and financial stability, sound regulatory practices and policies aimed at strengthening investor confidence and supporting sustainable economic growth.