Dr. Olayemi Michael Cardoso is the current Governor of the Central Bank of Nigeria (CBN). He officially assumed office on October 5, 2023, following his nomination by President Bola Ahmed Tinubu and confirmation by the Nigerian Senate.

Born on July 10, 1957, in Lagos, Cardoso is a seasoned banker, economist and public policy expert. He holds a Bachelor’s degree in Managerial and Administrative Studies from Aston University, UK and a Master’s in Public Administration from Harvard Kennedy School, USA. In recognition of his contributions to finance and public service, Aston University awarded him an honorary doctorate in 2017.

Cardoso brings over three decades of experience in both the private and public sectors. He served as the Commissioner for Economic Planning and Budget in Lagos State between 1999 and 2005, where he played a major role in reforms that shaped the state’s financial structure. Before his CBN appointment, he was the Chairman of Citibank Nigeria for over a decade, solidifying his reputation as a financial strategist and reformer.

Since assuming leadership at the CBN, Cardoso has redirected the bank toward orthodox monetary policies aimed at tackling Nigeria’s high inflation and currency instability. His tenure has been marked by aggressive interest rate hikes, policies to stabilize the naira, and reforms aimed at increasing transparency and investor confidence in the Nigerian economy.

In 2025, he was named African Central Bank Governor of the Year at the African Banker Awards, a recognition of his efforts to restore credibility to Nigeria’s monetary policy. Under his leadership, the CBN has also taken steps to diversify Nigeria’s foreign reserves and enhance coordination with fiscal policy.

Cardoso’s appointment is widely seen as a move to restore confidence in the Central Bank after years of controversial policies. With his blend of global financial expertise and local policy experience, many analysts view him as a stabilizing force for Nigeria’s economic future.

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