Board of the CBN
Mr. Olayemi Cardoso
Governor -From10/5/2023 -
Mr. Olayemi Cardoso is the Governor of the Central Bank of Nigeria (CBN). He commenced his tenure on October 5, 2023.
Before he joined the CBN, he spent over 29 years in commercial banking, culminating in his tenure as Chairman of Citibank Nigeria Ltd, a subsidiary of the world’s leading global bank and the oldest international bank in Nigeria, from 2010 to 2022. Between 1990 and 1997, he was an Executive Director at the Citizens International Bank Limited and Principal Partner at FBC Associates Limited from 1997 to 1999.
Cardoso served as Commissioner for Economic Planning and Budget, Lagos State Government, from 1999 to 2005. In that capacity, he implemented the blueprint which catalysed economic development in the state and championed reform, pioneering state-of-the-art analytical and consultative mechanisms for improving governance.
During his banking and public sector career, he served as Chairman of the Lagos Economic Summit Group (2020-2021) and the Africa Venture Philanthropy Alliance (AVPA), 2014 – 2020. He also served as a member of the Economic Advisory Council of the Federal Republic of Nigeria (2015 – 2019) and Cities Alliance Think Tank (2015 – 2018). Other private sector positions held by Cardoso during his career include Board membership of Chevron Oil Plc (2005 – 2008), Nigerian National Advisory Board for Impact Investing, Lagos Business School, Institution of the Annual State Economic Summit, Johnson Products, and DRASA Health Trust.
Cardoso graduated from the University of Aston in Birmingham, United Kingdom, in 1980 with a Bachelor of Science in Managerial and Administrative Studies (Concentration in Finance and Accounting) and subsequently pursued his master’s in public administration and Management (Concentration in Economics and Finance) from Harvard University, Massachusetts, United States of America in 2005. Mr. Cardoso was conferred with a Doctorate in Business Administration (DBA) (honoris causa) by the University of Aston in Birmingham, 2017 in recognition of his outstanding achievements in the private and public sectors. He is also a Fellow of the Chartered Institute of Stockbrokers.
See List of Serving Board Members
See Past and Present Governors of the CBN
See Frequently Asked Questions about the CBN Board
FAQs
They are Abdul-Rahman Esene, Mrs. Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Senator Farouk Bello. In addition, the CBN also named two new executive directors, Ladi Oluwole and Abubakar Usman Bello.
Who runs the Central Bank of Nigeria? ›
Central Bank of Nigeria
| Governor | Olayemi Cardoso |
| Central bank of | Nigeria |
| Currency | Nigerian naira NGN (ISO 4217) |
| Reserves | 28.28 billion USD |
| Bank rate | 18.7% (July 2023) |
6 more rowsThere are 29 (Twenty Nine) Departments in the Central Bank of Nigeria grouped in order of related performance and job descriptions (JDs) to facilitate smooth operations and management of those department.
Who is the director of HR CBN? ›
“Amina Habib, who is now the Director, Human Resources Department; Dr.
Who is the current chairman of CBN? ›
President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.
Who heads CBN? ›
CBN Governor, Olayemi Cardoso, at BusinessDay CEO Forum 2024, insists policies must positively impact the average Nigerian and restates commitment to implement policies that will foster a stable and prosperous economic environment for all Nigerians.
Who is the owner of the Central Bank? ›
The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress.
Who controls the Central Bank? ›
An Accountable, Transparent, Nonpartisan Federal Agency in the Nation's Capital. The Board of Governors—located in Washington, D.C.—is the governing body of the Federal Reserve System.
Who is the director of currency in Central Bank of Nigeria? ›
Ahmed Bello Umar has been appointed the new Director, Currency Operations Department by the Central Bank of Nigeria (CBN). The appointment reportedly took effect on Thursday, December 5, 2019.
Which ministry in Nigeria pays the highest salary? ›
Highest Paying Federal Government Jobs in Nigeria - Top 10
- Energy Commission of Nigeria. ...
- Nigerian National Petroleum Corporation. ...
- Bank of Industry. ...
- Federal Inland Revenue Service. ...
- Nigerian Maritime Administration and Safety Agency. ...
- Bureau of Public Enterprises. ...
- Nigerian Communication Commission. ...
- Nigeria in Diaspora Commission.
The CBN has 27 departments and more than 10,000 staff members across the 36 states of the federation. In 2022 alone, it spent N155. 63 billion on staff allowances and N40. 66 billion in staff loans, according to the bank's 2016-2022 financial statements released in August 2023.
What are the challenges of central banks in Nigeria? ›
As the nation's monetary authority, an autonomous Central Bank of Nigeria (CBN) faces the challenge of ensuring a stable value of the nation's currency, the naira. Safeguarding the value of the naira implies the maintenance of domestic of price stability as well as of a stable exchange rate.
Who are the news anchors on CBN? ›
CBN News reporters
- John Jessup (2003–), main news anchor.
- Charlene Aaron (2003–), news anchor.
- Jennifer Wishon (2008–)
- Efrem Graham (2009–)
- Mark Martin (2009–)
- Gary Lane (1984–)
- Dale Hurd (1991–)
- Chris Mitchell (1989–)
A statement signed by the Bank's Director in charge of Financial Markets, Dr Omolara Duke, said the new release is part of the bank's determination to promote stability and reduce market volatility in the foreign exchange market.
Who is the director of CIPM? ›
Oluwatoyin Naiwo – Registrar/Chief Executive, CIPM, Nigeria.
Who is the new head of ABS CBN news? ›
The division is currently headed by ABS-CBN's Senior Vice President for Integrated News and Current Affairs Mary Anne Francis B. Toral-Torres (who replaced Ma. Regina "Ging" Reyes, who retired on December 24, 2022).
Who is the director of currency operations at CBN? ›
Africa | Ahmed Bello Umar Director of Currency Operations Department, CBN.
Who are the leaders of ABS CBN? ›
- Martin "Mark" L. López (Chairman)
- Carlo L. Katigbak (President and CEO)
- Cory Vidanes (COO for Broadcast)
- Charo Santos-Concio (CCO)
