Yemi Cardoso
Yemi Cardoso | |
|---|---|
| Born | July 10, 1957 Nigeria |
| Occupation(s) | Financial expert, banker, public servant |
| Years active | 1980–present |
| Known for | Governor of the Central Bank of Nigeria, Commissioner for Economic Planning and Budget in Lagos State |
Olayemi Michael "Yemi" Cardoso (born 10 July 1957) is a Nigerian financial expert currently serving as the governor of the Central Bank of Nigeria. He has also held the position of Commissioner for Economic Planning and Budget in Lagos State.
Cardoso's professional background in the private sector includes extensive experience in banking, stockbroking, and consultancy. He has chaired the Board of Citibank Nigeria and held directorships at MRS Oil and EFInA. Furthermore, he was involved with the Cities Alliance Africa Think Tank Group and was a member of the advisory board at Lagos Business School. He led the African Venture Philanthropy Alliance as its chair and co-established the Ehingbeti Summit, an economic think tank based in Lagos State. Cardoso also served as an Executive Lead within the Harvard Kennedy School Alumni Association.
On 15 September 2023, President Bola Tinubu nominated Cardoso to serve a five-year term as governor of the Central Bank of Nigeria, subject to Senate approval. His appointment was ratified on 23 September 2023.
Education
Olayemi Cardoso attended Corona School Ikoyi and St. Gregory’s College, Lagos. He graduated with a B.Sc. in Managerial and Administrative Studies from Aston University, United Kingdom in 1980. In 2005, he earned a Master’s degree in Public Administration from the Harvard Kennedy School of Government, where he was honored as a Michael Romer Memorial Scholar.
Banking and financial services
Cardoso launched his career at Howard Tilly & Co., Chartered Accountants in London before transitioning to Citibank. He completed credit training with Citibank in Athens and was assigned to the West Africa Regional Office in Abidjan, Ivory Coast in 1982, where he managed sovereign debt portfolios across several nations. Later that year, he returned to Nigeria to join Chase Merchant Bank, focusing on credit and marketing for sectors including trading, construction, and oil and gas.
In 1984, Cardoso rejoined Citibank as a founding member of Nigeria International Bank Limited, heading the World Corporation Group and participating on the credit committee. By 1988, he had opened Citibank’s inaugural branch outside Lagos in Kano, overseeing operations across northern Nigeria and advancing to Vice President.
In 1990, alongside former Citibank colleagues, Cardoso co-founded Citizens Bank Nigeria. There, he held roles such as Head of Corporate Banking, Head of Treasury and Financial Institutions, and Executive Director over an eight-year period.
Lagos State government
Following Nigeria’s return to democratic governance in 1999, Cardoso was appointed Commissioner for Economic Planning & Budget for Lagos State, where he guided the ministry as a strategic advisory body for the administration.
He chaired several pivotal cabinet committees including:
- Cabinet Project Monitoring Committee
- Lagos Urban Transport Project Office (the forerunner to Lagos Metropolitan Area Transport Authority)
- Privatization Committee
- Lagos Water Corporation
- State Security Trust Fund Committee (which he founded)
- State Pension Fund Committee
Citibank Board Involvement
Between 2007 and 2010, Cardoso led the audit committee at Citibank before joining the board and eventually assuming the role of Chairman. During his tenure as Chairman, he actively promoted initiatives focused on diversity and the advancement of gender inclusion.
Contributions to Development
Cardoso established the Africa Institute for Leadership and Public Administration (AILPA) to encourage collaboration between the private sector and government. He holds positions on Nigeria’s National Advisory Board for impact investing as well as the advisory board of Lagos Business School. Furthermore, he acts as a trustee for the DRASA Health Trust, which commemorates the legacy of the late Dr. Ameyo Adadevoh.
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