Economy Finance Fintech

Introducing Dr. Yemi Cardoso as the New Governor of the Central Bank of Nigeria

 

The appointment of Dr. Yemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN). Dr. Cardoso brings a wealth of experience and expertise to this prestigious position, and we are confident that his leadership will make a significant impact on the financial landscape of Nigeria.

Dr. Cardoso’s Educational Background:

Dr. Yemi Cardoso attended renowned institutions for his primary and secondary education, including Corona School Ikoyi and St. Gregory’s College in Lagos. He obtained a Bachelor’s degree (B.Sc.) in Managerial and Administrative Studies from Aston University in 1980. Later, in 2005, he earned a Master’s degree in Public Administration from the Harvard Kennedy School of Government as a Mason Fellow. In recognition of his exceptional achievements, he was granted an honorary Doctorate in Business Administration (DBA) by Aston University in 2017.

Professional Journey:

Dr. Cardoso embarked on his professional journey at Howard Tilly & Co., Chartered Accountants in London before transitioning to the banking industry. In 1981, he joined Citibank, the world’s largest financial services organization at that time.

Public Service:

In the realm of public service, Dr. Cardoso served as the Commissioner for Economic Planning & Budget in Lagos State during Nigeria’s transition to civilian and democratic governance in 1999. He played a pivotal role in establishing and overseeing Nigeria’s first stand-alone Ministry of Economic Planning & Budget, which became the driving force behind numerous reforms.

Return to Private Life and Development Sector:

After his government tenure, Dr. Cardoso remained deeply engaged in the development sector, offering consultancy services on development and financial matters. He established strong partnerships with international entities like Standard & Poor’s (S&P) and prominent donors such as the World Bank. His contributions extended to the Cities Alliance Think Tank, where he dedicated himself to shaping and influencing urban development policy and decision-making in Africa.

Notable Achievements as Chairman of Citibank Nigeria Limited:

Dr. Cardoso’s leadership as Chairman of the Board of Citibank Nigeria Limited from 2010 to 2022 was marked by exemplary expertise and stewardship. Under his guidance, the bank experienced substantial growth, with total assets increasing by 308.3%, total revenue surging by 235.6%, and shareholders’ equity showing an outstanding improvement of 231.2%. Dr. Cardoso’s tenure also witnessed successful execution of substantial transactions, including MTN’s 2017 US$1.5 billion Eurobond, where Citibank played a pivotal role as joint Lead Manager.

Current Engagements:

Dr. Cardoso is currently a member of the Nigerian National Advisory Board on impact investing and serves on the advisory board of Lagos Business School. He is also the founding Chairman of the board for the Africa Venture Philanthropy Alliance (AVPA), an organization dedicated to unlocking new capital for social impact across the continent.

We extend our warmest congratulations to Dr. Yemi Cardoso on his appointment as the Governor of the Central Bank of Nigeria. We look forward to witnessing his transformative leadership and contributions to the financial sector in Nigeria.

 

 

ANTHONY EMEKA NWOSU

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