The Central Bank of Nigeria (CBN) has been remarkably effective in carrying out its operations since its inception in 1958. The bank has had a diverse range of leaders over the years all with different policies and methods of handling monetary issues.
Starting from Roy Pentelow Fenton, the first expatriate Governor who served between the 24th of July 1958 to the 24th of July 1963, and the capable personalities who came after him, every Governor has made his mark in history.
Fenton’s leadership bore great significance in the beginning of the operations of the central bank. The primary goal of creating the CBN was to control the banking activities of the country and also manage the currency.
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All CBN Governors From 1958 Till Date
| No | NAME | Tenure |
|---|---|---|
| 1 | Roy Pentelow Fenton | 24 July 1958 - 24 July 1963 |
| 2 | Aliyu Mai-Bornu | 25 July 1963 - 22 June 1967 |
| 3 | Clement Nyong Isong | 15 August 1967 - 22 September 1975 |
| 4 | Adamu Ciroma | 24 September 1975 - 28 June 1977 |
| 5 | Ola Vincent | 28 June 1977 - 28 June 1982 |
| 6 | Abdulkadir Ahmed | 28 June 1982 - 30 September 1993 |
| 7 | Abdulkadir Ahmed | 28 June 1982 - 30 September 1993 |
| 8 | Paul Agbai Ogwuma | 1 October 1993 - 29 May 1999 |
| 9 | Joseph Oladele Sanusi | 29 May 1999 - 29 May 2004 |
| 10 | Charles Chukwuma Soludo | 29 May 2004 - 29 May 2009 |
| 11 | Sanusi Lamido Aminu Sanusi | 3 June 2009 - 20 February 2014 |
| 12 | Sarah Alade (Acting) | 20 February 2014 - 3 June 2014 |
| 13 | Godwin Emefiele | 3 June 2014 - 9 June 2023 |
| 14 | Folashodun Adebisi Shonubi (Acting) | 9 June 2023 - 15 September 2023 |
| 15 | Olayemi Cardoso | 15 September 2023 - Present |
The First CBN Governor : Roy Pentelow Fenton
Roy Pentelow Fenton’s legacy in the history of the CBN is conferred by the fact that he was the first person to hold that office from 24 July 1958 – 24 July 1963.
It was also during his tenure that the building blocks of Nigeria’s monetary policy were put in place together with the basic structures of the operation of the institution. The CBN intended to curb these vices and create a more structured financial system.
During his tenure as Governor, Fenton focused on several significant assignments. These included monitoring of the country’s foreign reserves, money supply, and coordination of the financial sector.
His work was designed to make sure that there was no way the CBN would become an impediment to the economic advancement and the stability of Nigeria.
It was during this period that the Central Bank began the issuance of currency, control of banking operations, and operation of a forex system which laid the foundation to the growth of the economy.
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Current CBN Governor: Olayemi Cardoso
The Central Bank of Nigeria is currently headed by Olayemi Cardoso. He took over on 15th September 2023, as President Bola Tinubu appointed him for the position.
He was born on 10 July, 1957 in Lagos Nigeria and started his early education at Corona School Ikoyi followed by St Gregory’s College Lagos.
He attended Aston University in the United Kingdom in 1980 where he graduated with a bachelor degree in managerial and administrative studies prior to obtaining a Masters in Public Administration from Harvard Kennedy School in 2005.
In addition to his administrative service, Cardoso has also been successful in the private sector well before being named Governor.
His jobs spanned commercial and investment banking with Citibank and Chase Merchant Bank, as well as positions such as the Head of World Corporation Group and Vice President.
He has played a vital role in enhancing the Ministry of Economic Planning & Budget and has been assigned to lead and serve on many important committees including those dealing with urban transport and privatization.
