CBN Governor Yemi Cardoso appointed Chairman of Africa Finance Corporation

Yemi Cardoso, Governor of the Central Bank of Nigeria, has been appointed Chairman of the Africa Finance Corporation (AFC), succeeding Mrs Ireti Samuel-Ogbu who held the role since April 2025. The appointment was disclosed by AFC President and CEO Samaila Zubairu on Wednesday on the sidelines of the IMF meeting in Bangkok, Thailand. AFC said a formal announcement will follow soon.

This places Nigeria's top central banker at the helm of a key continental infrastructure financier that funds power, transport, telecoms and energy projects across Africa. Cardoso's leadership could influence AFC's lending priorities, potentially directing more financing toward Nigerian projects and shaping regional development agendas. It also signals international confidence in Nigeria's economic stewardship amid ongoing domestic challenges.

Cardoso remains CBN Governor while taking the AFC chair; the role is part-time and does not require relocation. AFC's current portfolio includes over $10 billion in investments, with recent focus on renewable energy and regional integration. Professionals watching Nigeria's financing landscape should note that AFC's next funding cycle may reflect Cardoso's policy stance, and stakeholders can monitor the AFC website for the formal announcement and upcoming project calls. Will Cardoso's AFC chairmanship lead to more infrastructure funding for Nigeria, or will his focus remain on continental balance?

SOURCE: https://nairametrics.com/2026/10/14/breaking-cbn-governor-yemi-cardoso-appointed-afc-chairman/