The Africa Finance Corporation (AFC) has appointed Central Bank of Nigeria (CBN) Governor Olayemi Cardoso as chairman of its Board of Directors.
Cardoso succeeds Ireti Samuel-Ogbu, who will remain a member of the board after serving as chair.
The appointment was announced on Wednesday, October 14, 2026, as the corporation continues to expand its investments in infrastructure and industrial development across Africa.
Before becoming CBN governor in September 2023, Cardoso served as chairman of Citibank Nigeria for 12 years and as Lagos State Commissioner for Economic Planning and Budget.
As CBN governor, he has overseen monetary, foreign exchange and banking-sector reforms aimed at strengthening financial stability and investor confidence.
AFC President and Chief Executive Officer, Samaila Zubairu, said Cardoso’s leadership would support the corporation’s Africa We Build 2050 strategy to mobilise capital for infrastructure and industrial projects.
Established in 2007, AFC finances and develops projects across sectors including power, transport, telecommunications, natural resources and heavy industry. The corporation says it has invested more than $20 billion across 36 African countries.
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