Meet Dr. Olayemi Michael Cardoso: Nigeria’s New CBN Governor and His Remarkable Journey

Dr. Olayemi Michael Cardoso has been nominated by President Bola Tinubu to serve as the new Governor of the Central Bank of Nigeria for a term of five years, pending confirmation by the Senate.

Here’s what you need to know about him:

1. Early Life and Education: Olayemi Cardoso is a Lagosian who spent his formative years in Lagos. He attended Corona School Ikoyi and St. Gregory’s College in Lagos for his primary and secondary education, respectively.
2. Family Background: His father, Felix Bankole Cardoso, held prominent positions in Nigeria, serving as the first indigenous Accountant-General of the Federation of Nigeria in 1963. He was also the first indigenous Vice Chairman and Managing Director of Barclays Bank of Nigeria. Under his leadership, Barclays transformed into Union Bank of Nigeria, becoming a wholly-owned Nigerian entity.
3. Educational Background: Olayemi Cardoso obtained a Bachelor’s degree in Managerial and Administrative Studies from Aston University in 1980. He furthered his education at the Harvard Kennedy School of Government, earning a Master’s degree in Public Administration in 2005 as a Mason Fellow.
4. Honors and Recognitions: In recognition of his exceptional achievements in both the private and public sectors, Aston University awarded him an honorary Doctorate in Business Administration (DBA) in 2017. He is also esteemed as a Fellow of the Chartered Institute of Stockbrokers.
5. Professional Background: Dr. Olayemi Michael Cardoso is a Nigerian banker, chartered stockbroker, and public policy expert. He has a remarkable track record of service spanning over four decades in various leadership roles in the public, private, and development sectors.
6. Key Roles: Notable positions he has held include Commissioner in the Lagos State Ministry of Economic Planning and Budget. He has also served as the Chairman of the board of the African Venture Philanthropy Alliance. Most recently, he was the Chairman of Citibank Nigeria Ltd for an impressive 12-year tenure until his resignation in 2022.
7. Family Life: Dr. Cardoso is known as a dedicated family man. He is married and has five children and three grandchildren. His family has a unique heritage as descendants of Brazilian returnees and hails from prominent families from Popo Aguda.

Dr. Olayemi Michael Cardoso brings a wealth of experience and expertise to his role as the nominated Governor of the Central Bank of Nigeria. His background in finance, public administration, and policy, as well as his distinguished career, make him a significant figure in Nigeria’s financial landscape. His nomination is subject to confirmation by the Senate, after which he will assume the position for a term of five years.