Abuja, Nigeria – The Central Bank of Nigeria (CBN) has announced that women now constitute 35 percent of its directors, with half of its non-executive board also being female.
This was disclosed by CBN Governor Olayemi Cardoso at the grand finale of the bank’s International Women’s Day (IWD) celebrations held at its head office on Tuesday. Cardoso reaffirmed the CBN’s commitment to achieving gender-balanced leadership within the institution.
According to a statement released on Thursday, the event marked the conclusion of a month-long program dedicated to celebrating IWD across all CBN branches.
“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.”
Cardoso emphasized the significant contributions of women throughout the CBN, acknowledging their critical roles in guiding the bank’s operations and policy direction. He specifically mentioned the newly appointed directors, Daphne Dafinone, Nkiru Balonwu, and Shola Phillips, for their instrumental roles in navigating complex challenges.
Emem Usoro, the Deputy Governor of Corporate Services, expressed gratitude for the collective effort behind the IWD program, describing it as a powerful demonstration of the bank’s commitment to equity, inclusion, and institutional advancement.
Usoro underscored the urgency of the IWD 2025 theme, ‘Accelerate Action,’ citing a World Economic Forum report that projects full gender parity may not be achieved until 2054. She urged institutions to dismantle structural barriers and create more opportunities for women to build sustained momentum towards gender equality.
A highlight of the CBN’s IWD ceremony was the ‘Inspiring Women Award,’ an initiative by the Change and Culture Transformation Unit (CCTU). This award recognizes outstanding female staff across the bank’s branches nationwide. Out of 806 nominations, 28 winners were selected following a rigorous evaluation process, representing branches from across Nigeria, including Awka, Dutse, Yola, Gombe, Oshogbo, Kaduna, Enugu, and Birnin Kebbi.
Governor Cardoso presented the prestigious Amazon Award to Deputy Governor Usoro for her exceptional leadership since assuming office. Additionally, 10 female directors were celebrated as trailblazers, and 18 other inspiring women were acknowledged for their significant contributions to the bank.
The CBN appointed 16 new directors on March 3, with six of them being women, to head various key departments within the organization.
Gender Representation: Women Now 35% of CBN Directors- Cardoso.
