The Africa Finance Corporation (AFC) has appointed Central Bank of Nigeria (CBN) Governor Olayemi Cardoso as chairman of its Board of Directors, placing the Nigerian central bank chief in a leadership role at the pan-African infrastructure financing institution.

The corporation announced the appointment on October 14, 2026, confirming that Cardoso would succeed Ireti Samuel-Ogbu, who will remain a member of the board.

AFC President and Chief Executive Officer, Samaila Zubairu, said Cardoso’s experience and leadership would support the corporation’s efforts to mobilise African capital for infrastructure development, industrial growth and job creation.

The corporation said the appointment comes as it advances its long-term initiative, The Africa We Build 2050, which focuses on financing infrastructure and industries intended to expand Africa’s productive capacity and strengthen regional economic integration.

Cardoso said the corporation’s impact should be measured by the productive capacity it creates, the industries it enables and the jobs it supports. He also expressed readiness to work with AFC’s board, management and member states to advance its development agenda.

Before joining AFC as board chairman, Cardoso had built a career spanning international banking, investment management, economic policy and public service. He became CBN governor in September 2023 and previously served as chairman of Citibank Nigeria and Lagos State commissioner for economic planning and budget.

AFC said Cardoso’s experience in financial-sector reform, institutional governance and capital markets would contribute to its strategic direction as it continues to finance infrastructure and industrial projects across Africa. The appointment places him at the head of the corporation’s board as it pursues its goal of mobilising investment for the continent’s long-term development.