Olayemi Cardoso Biography: Age, State Of Origin, Career, CBN Governor, Wife, Family, Net Worth

Onyedika March 27, 2024

Olayemi Cardoso Biography

Olayemi Cardoso is a Nigerian banker who is currently serving as the governor of the Central Bank of Nigeria. He assumed office on September 15, 2023, after being appointed by President Bola Tinubu and was confirmed by the Nigerian Senate on September 23, 2023.

Olayemi Cardoso holds a Bachelor of Science degree from Aston University, Birmingham, England, and a Master’s degree in Public Administration from the Harvard Kennedy School, Cambridge, Massachusetts, USA.

Olayemi Cardoso has had a distinguished career in both the private and public sectors. He previously served as the Commissioner for Economic Planning and Budget of the Lagos State Government and has held various significant positions in the banking sector, including being the Chair of the Board of Citibank Nigeria.

Olayemi Cardoso Age

Olayemi Cardoso is 66 years old as of 2024.

Olayemi Cardoso State Of Origin

Olayemi Cardoso hails from Lagos State, which is located in the southwestern region of Nigeria.

Olayemi Cardoso Early Life and Education

Olayemi Cardoso was born on July 10, 1957, in Lagos, British Nigeria and he was raised in an environment that valued education and intellectual growth.

Cardoso’s educational journey began at Corona School Ikoyi, a prestigious institution in Lagos known for its rigorous academic standards and commitment to nurturing the leaders of tomorrow.

After completing his primary education, Cardoso attended St. Gregory’s College in Lagos, where he further honed his academic skills.

Cardoso’s pursuit of higher education took him to the United Kingdom, where he attended Aston University. There, he earned a Bachelor’s degree in Managerial and Administrative Studies in 1980.

Olayemi Cardoso Career

Olayemi Cardoso’s professional journey began with a brief stint at Howard Tilly & Co., Chartered Accountants in London, which laid the groundwork for his future endeavors in the financial sector. Cardoso’s early career was marked by a significant move to Citibank, where he underwent rigorous credit training in Athens, Greece, before being deployed to the bank’s operations in Abidjan, Ivory Coast.

In 1982, Cardoso returned to Nigeria and joined Chase Merchant Bank, an affiliate of Chase Manhattan. Here, he was a vital member of the credit and marketing team, focusing on sectors such as trading, construction, and oil and gas.

His competence and leadership skills soon led him back to Citibank Nigeria, where he became a founding member of Nigeria International Bank Limited and assumed the role of Head of the World Corporation Group.

Cardoso’s executive prowess was further recognized when he served as Vice President of Citibank Nigeria from 1981 to 1990. His strategic vision and financial acumen were instrumental in strengthening the bank’s position in the Nigerian market. Following this, he took on the role of Executive Director at Citizens International Bank from May 1990 to June 1997, where he continued to make significant contributions to the banking industry.

The year 1997 marked a new chapter in Cardoso’s career as he became the Principal Partner at FBC Associates Limited, a role he held until 1999. His vast experience in banking and finance made him an invaluable asset to the Lagos State Government, where he served as the Commissioner for Economic Planning and Budget from 1999 to 2005.

Cardoso’s influence extended beyond the public sector as he held various positions in the private sector, including board memberships at MRS Oil and the Lagos Business School. He also served as Chairman of the board of EFInA and the African Venture Philanthropy Alliance. His leadership and insights have been sought after in various capacities, such as the Economic Advisory Council of the Federal Republic of Nigeria and the Cities Alliance Think Tank.

Olayemi Cardoso’s Nomination and Appointment as the CBN Governor

On September 15, 2023, President Bola Ahmed Tinubu nominated Dr. Yemi Cardoso to serve as the new Governor of the CBN. The announcement was made by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale. Cardoso’s nomination was set for a term of five years, subject to confirmation by the Nigerian Senate

The Senate confirmed Cardoso’s appointment as CBN governor alongside four deputy governors on September 26, 2023. The confirmation followed a screening conducted by the upper legislative body. The Deputy Governors-Designate also assumed duty in acting capacities.

Dr. Olayemi Michael Cardoso formally assumed duty, in an acting capacity, as the Governor of the CBN on September 22, 2023, pending his confirmation by the Senate. He commenced his tenure officially on October 5, 2023.

Olayemi Cardoso Wife and Children

Olayemi Cardoso is married to Mrs. Abimbola Chima Cardoso. Together, they are blessed with five children and three grandchildren. The Cardoso family has roots that trace back to Brazilian returnees, and they come from prominent families from Popo Aguda.

Olayemi Cardoso Net Worth

As of 2024, Olayemi Cardoso has an estimated net worth of $5 million.