Women now 35% of CBN directors, says Cardoso

The Central Bank of Nigeria (CBN) says 35 percent of its directors are women, adding that they also make up half of its non-executive board.

Speaking at the grand finale of the International Women’s Day (IWD) celebrations at the CBN head office on Tuesday, Olayemi Cardoso reaffirmed the bank’s mission to achieve gender-balanced leadership.

According to a statement on Thursday, the event was 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 said.

“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.”

He highlighted the valuable contributions of women across the institution, playing critical roles in steering the CBN forward.

The governor specifically noted the newly appointed directors, including Daphne Dafinone, Nkiru Balonwu, and Shola Phillips, “who have been instrumental in navigating complex challenges and guiding the bank’s policy direction”.

On her part, Emem Usoro, deputy governor of corporate services, 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 that projects that full gender parity may not be achieved until 2054.

Consequently, she called on institutions to break structural barriers and foster opportunities for women to build sustained momentum in the pursuit of gender equity.

The CBN’s IWD ceremony culminated in the ‘Inspiring Women Award’, an initiative of the Change and Culture Transformation Unit (CCTU), aimed at recognising outstanding female staff across the bank’s branches.

Out of 806 nominations submitted nationwide, 28 winners were selected following a rigorous evaluation process, according to the statement.

Awardees were said to have been drawn from branches across Nigeria, including Awka, Dutse, Yola, Gombe, Oshogbo, Kaduna, Enugu, and Birnin Kebbi.

The statement said Usoro received the prestigious Amazon Award from Cardoso in recognition of her outstanding leadership since assuming office.

Additionally, 10 female directors were celebrated as trailblazers, alongside a further 18 inspiring women acknowledged for their exceptional contributions across the bank.

The apex bank appointed 16 new directors on March 3, including six females, to head key departments.