CBN: Cardoso champions gender equity with record female senior appointments

In a significant milestone for Nigeria’s banking sector, women now constitute 35% of the Central Bank of Nigeria’s (CBN) directors and half of its Non-Executive Board, underscoring the institution’s deepened commitment to inclusive and representative leadership.

Speaking at the grand finale of the International Women’s Day (IWD) celebrations at the CBN Head Office on Tuesday (March 25), Governor Olayemi Cardoso reaffirmed the Bank’s mission to achieve gender-balanced leadership. The event marked the culmination of a month-long programme celebrating IWD across the CBN.

“Increasing women’s representation in leadership is not just ethical; it is a strategic necessity,” Cardoso stated. “The rise of women in leadership at the CBN mirrors a global shift, where skilled and visionary female leaders are reshaping governance. We at the CBN are proud to be part of this progress.”

The appointment of six new female directors sets a new record for the CBN, reinforcing Governor Cardoso’s resolve to foster diverse perspectives at the top. He highlighted the valuable contributions of women across the institution, particularly the newly appointed directors who now join the distinguished ranks of his Advisers – Dr. Daphne Dafinone, Dr. Nkiru Balonwu, and Ms. Shola Phillips – whose strategic insight, deep expertise, and steadfast commitment have been instrumental in navigating complex challenges and guiding CBN policy direction. He also recognised the leadership of existing female directors who continue to play critical roles in steering the CBN forward.

In her remarks, Deputy Governor, Corporate Services, Ms. Emem Usoro, expressed appreciation for the collective effort behind this year’s IWD programme, describing it as a powerful reflection of the Bank’s shared commitment to equity, inclusion, and institutional progress. She underlined the urgency of the IWD 2025 theme, Accelerate Action, citing a World Economic Forum report which projects that full gender parity may not be achieved until 2054. She urged institutions to break structural barriers and foster opportunities for women to build sustained momentum in the pursuit of gender equity.

The IWD ceremony culminated the Inspiring Women Award, an initiative of the Change and Culture Transformation Unit (CCTU), aimed at recognising outstanding female staff across the CBN’s branches. Out of 806 nominations submitted nationwide, 28 winners were selected following a rigorous evaluation process. Awardees were drawn from branches across Nigeria including Awka, Dutse, Yola, Gombe, Oshogbo, Kaduna, Enugu and Birnin Kebbi.

Among the honourees, Deputy Governor Emem Usoro received the prestigious Amazon Award from Governor Cardoso, in recognition of her outstanding leadership since assuming office. Ten female directors were celebrated as Trailblazers, alongside a further 18 inspiring women acknowledged for their exceptional contributions across the Bank.