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CBN Governor Yemi Cardoso Appointed AFC Board Chairman
CBN Governor Yemi Cardoso Appointed AFC Board Chairman
CBN Governor Yemi Cardoso has been appointed Chairman of the Africa Finance Corporation Board.
He succeeds Ireti Samuel-Ogbu, who assumed the position in April 2025.
AFC President Samaila Zubairu announced the appointment at the IMF and World Bank meetings in Bangkok, Thailand.
October 14, () – The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has been appointed Chairman of the Board of the Africa Finance Corporation, succeeding Ireti Samuel-Ogbu, who has held the position since April 2025.
The AFC President and Chief Executive Officer, Samaila Zubairu, disclosed the appointment on Wednesday on the sidelines of the 2026 annual meetings of the International Monetary Fund and the World Bank in Bangkok, Thailand.
The Africa Finance Corporation is expected to issue a formal announcement on Cardoso’s appointment, with further details of the transition yet to be made public.
AFC’s Role in African Infrastructure Financing
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The Africa Finance Corporation is a pan-African multilateral financial institution focused on financing infrastructure and industrial development across the continent.
Its activities span sectors including energy, transport, natural resources and telecommunications, with investments aimed at addressing infrastructure gaps and supporting economic growth.
Channel
Cardoso’s appointment places Nigeria’s central bank governor at the head of the corporation’s board as African economies continue to seek long-term financing for infrastructure, industrial expansion and regional trade.
Cardoso’s New Role
As CBN governor, Cardoso oversees Nigeria’s monetary policy, financial system regulation and foreign exchange management.
His appointment to the AFC board leadership adds an institutional finance role to his responsibilities in Nigeria’s financial sector. However, further details on his tenure, the transition arrangements, and the priorities of his chairmanship are expected to emerge with the corporation’s formal announcement.
Cardoso succeeds Samuel-Ogbu, who assumed the chairmanship in April 2025.
More details to come…
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