President Bola Tinubu has granted his approval for Dr. Olayemi Michael Cardoso to take on the role of Governor of the Central Bank of Nigeria (CBN). Dr. Cardoso’s appointment is for an initial term of five (5) years, pending confirmation by the Nigerian Senate.
Dr. Olayemi Michael Cardoso is a highly accomplished Nigerian professional with a strong background in banking, chartered stockbroking, and public policy. He has previously served as the Chairman of Citibank Nigeria and held the position of Commissioner for the Lagos State Ministry of Economic Planning and Budget.
Brief Background
Cardoso hails from Lagos state and attended Corona School Ikoyi and St. Gregory’s College for primary and secondary education. His father, Felix Bankole Cardoso, became Nigeria’s first indigenous Accountant-General of the Federation in 1963.
In 1972, Cardoso became the first indigenous Vice Chairman and Managing Director of Barclays Bank of Nigeria, which later transformed into Union Bank of Nigeria.
In 1980, he earned a Bachelor’s degree in Managerial and Administrative Studies from Aston University. He pursued further studies at Harvard Kennedy School of Government (HKS) and graduated as a Mason Fellow with a Master’s degree in Public Administration in 2005.
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Aston University recognized his contributions, awarding Cardoso an honorary Doctorate in Business Administration (DBA) in 2017. He is also a distinguished Fellow of the Chartered Institute of Stockbrokers.
Career
Dr. Olayemi Michael Cardoso has an impressive track record in various leadership roles:
- He served as the Chairman on the board of Citibank Nigeria and actively contributed as a member of the Cities Alliance’s Africa Think Tank Group, which focuses on addressing urban development challenges.
- Dr. Cardoso has been a board member of MRS Oil and held the position of Chairman on the board of EFinA.
- Currently, he is a member of the advisory board at Lagos Business School and holds the position of Chairman on the board of the African Venture Philanthropy Alliance.
- Previously, Dr. Cardoso held the esteemed position of Commissioner for Economic Planning and Budget for Lagos State, and he played a pivotal role as the founding Chairman and Co-Chair of the Ehingbeti Summit, an influential economic summit in Lagos State.
Achievement
Cardoso’s dedication to continuous learning has been recognized by several educational institutions:
- He has served as a Trustee of the Harvard Club of Nigeria since 2022.
- He is a Trustee of the Harvard Kennedy School Nigeria Alumni since 2020.
- Cardoso has been a Board advisor at the Lagos Business School since 2019.
- He has been a Trustee of St. Augustine University since 2018.
- From 2006 to 2010, he was a Global Alumni-elected Board member of Harvard Kennedy School.
