CBN Governor Olayemi Cardoso Becomes AFC Board Chairman

The Africa Finance Corporation (AFC) announced the appointment of Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), as the new Chairman of its Board of Directors, succeeding Ireti Samuel-Ogbu. This announcement was made during an investors' forum in Bangkok, Thailand, coinciding with the International Monetary Fund and World Bank Group Annual Meetings.

At the forum, Cardoso and Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, presented the Nigerian government's commitment to economic reforms aimed at attracting long-term capital and improving the investment climate. The government is seeking to mobilize $78.5 billion for 65 projects across various sectors, including energy, transport, agriculture, and technology.

The forum introduced a deal room to connect investors with policymakers, facilitating access to investment opportunities in Nigeria. The project pipeline includes 25 projects in oil, gas, and power valued at $36.4 billion, among others.