Africa Finance Corporation names CBN Governor Yemi Cardoso as chair

Africa Finance Corporation names CBN Governor Yemi Cardoso as chair

AFC has appointed the Central Bank of Nigeria Governor as Chairman of its Board, days after co-developing the US$877m MetroKin rail project in DR Congo.

October 17, 2026

The Africa Finance Corporation (AFC) has appointed Olayemi Cardoso, Governor of the Central Bank of Nigeria, as Chairman of its Board of Directors, the corporation announced on 14 October 2026.

Context

The appointment comes in a busy month for the corporation: on 12 October in Dubai it signed a joint development agreement with the Government of the Democratic Republic of Congo to co-develop phase one of MetroKin, a US$877m, 25km electrified rail line in Kinshasa, and a memorandum to fund a feasibility study for a Kinshasa–Banana railway.

Why it matters

AFC sits at the centre of much of the region’s infrastructure deal flow, as lender, equity investor and developer. A chair who also leads Nigeria’s monetary authority will draw questions about governance and the separation of roles, which the corporation has not yet addressed publicly.

Photo: chippla at English Wikipedia / Wikimedia Commons, Public domain (illustrative).

The Meridian Editorial Team

Andrew U. — Editorial Director | Damilare A. — Intelligence Director | Amaka Nwoye — Senior Legal Research Analyst | Salome Mensah — Market Intelligence Analyst | May Ndlovu — Editorial Researcher | K.K. Lawal — Senior Correspondent | The Meridian’s editorial team brings experience across West African legal markets, commercial law, market intelligence and structured research. Our standard is simple: evidence first, independent judgement, and analysis grounded in how legal work happens in practice.