Cardoso is a name-brand that rings bell especially in the Financial and Economic sector in the country as well as in the Nigeria’s Political Arena.
The name-brand with full identity as Dr. Olayemi Michael Cardoso stands for an adroit, proficient and an expert personality in the Financial Economy and Public Policy whose prowess has gathered vast influence not just in Nigeria, but also abroad, especially, in the UK.
In the Political scene, especially, in Lagos State and Nigeria as a whole, Cardoso also wields a lot of influence as somebody who has had several corporate governance experiences.
On Friday 17th day of October, 2023, Dr. Olayemi Cardoso was announced by President Tinubu as the new governor for the country’s apex bank, Central Bank of Nigeria (CBN). It is apposite to x-ray the life, stretch, trudge and achievements of this high-up and notable personality.

Dr. Olayemi Michael Cardoso

CHILDHOOD AND EDUCATIONAL BACKGROUND

Olayemi Michael Cardoso who is presently in his 60’s had his root from a prominent descendant of Brazilian Returnee that domiciled in Popo Aguda, Lagos. He was therefore born a Lagosian spending his formative years in the city. Olayemi Cardoso who had his elementary education at the prestigious Corona School and St. Gregory’s College both in Ikoyi, Lagos Island had financial astuteness flowing in his vein as his father, Felix Bankole Cardoso was the first Indigenous Accountant-General of the Federation in 1963. The father was also the first indigenous Vice Chairman and Managing Director of Barclays Bank in 1972. Felix Cardoso the father played pivotal role in the transformation of Barclays bank into Union Bank, a completely Nigerian indigenous bank.

Mr. Felix Bankole Cardoso (left) as the first Accountant General of the Federal Republic of Nigeria in 1963 and son Dr. Olayemi Michael Cardoso (right) nominated Central Bank Governor of the Federal Republic of Nigeria 2023.

In 1980, the son, Olayemi Michael Cardoso attended the UK Aston University and graduated with Bachelor’s Degree in Managerial and Administrative studies in 1980. He further obtained his Master’s Degree in Public Administration from the Prestigious Harvard Kennedy School. In recognition of his astounding accomplishments in the Private and Public Sectors, Olayemi Cardoso was conferred with honorary Doctorate in Business Administration (DBA) by Aston University in UK. He is a fellow of the Nigeria’s Chartered Institute of Stoke Brokers.

Corona School Building

CAREER

Dr. Olayemi Michael Cardoso started his career as a Banker with CITIBANK where he rose to the position of Vice-President. He also served as the Chairman of the Board of CITIBANK Nigeria. Olayemi Cardoso also co-founded the Citizens International Bank Nigeria where he served as the Executive Director for 8 years. He has had over 30 years of experience in service across Private, Public and Non-for-Profit organizations. He served in the Board of Nigerian Subsidiaries of Multinational Corporations like Texaco, Chevron and EFInA. He was also appointed Executive and Board Members of several National and International Committees as well as organizations.
Olayemi Cardoso has been part of the team that has been working on an economic blueprint for the new government of the federation since the beginning of President Tinubu’s Administration in the country.

Yemi Cardoso at CITIBANK

PUBLIC SERVICE/CORPORATE GOVERNANCE EXPERIENCE

Dr. Cardoso was the first Commissioner for Economic Planning and Budget for Lagos State under Bola Ahmed Tinubu as Governor where he was instrumental for the state’s financial reform that transformed the state to the largest IGR state in Nigeria, a platform on which was built the transformational development that the state had witnessed under Governor Bola Ahmed Tinubu. His policies contributed immensely to Lagos State successive government’s efforts at achieving mega city status.
Olayemi Initiated several effective economic policies which had served as the foundation for the continuous transitional developments Lagos State witnesses till today. Such policies include: Security Trust Fund which has helped the State to be far more effective in keeping the criminal tides at check, the Medium-Term Expenditure (MTEF) and the series of collaborations between the State and Private organizations resulting from the Public-Private Partnership policies birthed by Cardoso’s initiative as the Commissioner for Economic Planning. He is a co-founder of Ehingbeti and Lagos State Economic Summit.
Olayemi Cardoso, the former Chairman of CITIBANK as a Consultant and Financial Policy Expert had served as Advisor and worked in collaborations with international development organizations like The World Bank, Ford Foundation, UN Habitat, World Health Organization as well as the Swedish Development Foundation.
Yemi Cardoso is also a member of the Cities Alliance Think-Tank based in Belgium which aims at influencing urban development policies in Africa.
On Friday 15th September, 2023, Dr. Olayemi Michael Cardoso’s appointment as the new Governor of Nigeria’s Apex bank, Central Bank of Nigeria was announced by the President Tinubu’s Spokesperson and Special Adviser of Media and Publicity, Chief Ajuri Ngelale.

Yemi Cardoso and other board members playing host to Lagos State Governor, Babajide Sanwolu when the Latter pays a visit to CITIBANK, London in 2020.

Pictures of Yemi cardoso with President Tinubu and other Nigeria's political Joggernauts

FAMILY LIFE/TREE

Dr. Olayemi Michael Cardoso is a good man on the family front who protects his family from the snare of public exposure. He is married to Mrs. Abimbola Chima Cardoso. Abimbola, his wife is the daughter of Late TOS Benson SAN, former minister of Information and her mother was Doctor (Mrs.) Mercy Benson, nee Abacheta who was the first Igbo Female doctor in Nigeria. Abimbola is also a Financial Consultant.
Dr. Olayemi Cardoso and his wife are blessed with 5 children among whom is Lolade Alakija (nee Cardoso). Lolade was married to Ladi, the son of the wealthy Folorunsho Alakija in a grandeur of events and activities across London and Nigeria that was tagged at that period as the most expensive wedding by Socialites and the Media. Lolade is a graduate of Business Finance from University of Manchester, United Kingdom while Ladi is a Law graduate from Warwick University. Both Lolade and Ladi produced the first grandson to the Alakijas and the Cardoso six years ago.

Yemi Cardoso with wife, Abimbola Cardoso

Pictures of children and family members at the wedding of Lolade, Cardoso 's daughter.

SOCIAL LIFE

Beyond the public life, Olayemi Cardoso is rarely seen in social gathering except when it is really necessary. But no doubt that he knows the important of social ties and relationship as his life radiates this. This is the reason he has been able to keep up steadily with people that matters within the country and abroad as well as national and international organization. No doubt he has a strong and unbreakable tie with President Tinubu, the reason the latter drags him along as he rises. Yemi Cardoso also shows his humane nature in his philanthropic activities via international humanity-based and philanthropic organizations.
His life no doubt epitomizes family values of rich legacy of astuteness and Leadership borne out of culture of priority on education, career and professional life as well as commitment to excellence which is shown to have run through the family tree.