Africa Finance Corporation appoints Cardoso as Chairman of the Board
By Babajide KomolafeAfrica Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, announces the appointment of Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), as…
The Africa Finance Corporation (AFC) is a multilateral development finance institution founded in 2007 with backing from the Central Bank of Nigeria and other African institutional investors, focused on closing Africa's infrastructure financing gap through investments in power, transport, telecoms, and natural resources projects across the continent. Nigeria is among its largest shareholders, and the CBN governor has traditionally held a seat on its board, reflecting the close institutional ties between Abuja and the Lagos-headquartered lender.
The appointment places Olayemi Cardoso, who already heads Nigeria's apex bank, in a dual role overseeing both domestic monetary policy and the governance of a major pan-African development finance body. Both Vanguard and Tribune Online report the same core facts of the appointment without detailing a start date, tenure length, or Cardoso's stated priorities for the board, leaving questions about how he intends to balance the two positions and what specific agenda he may pursue at AFC.