Citibank appoints former CBN Deputy Governor, Shamsuddeen Usman as Chairman

Former Minister of Finance, former Minister of National Planning, and former Deputy Governor of the Central Bank of Nigeria, Dr. Shamsuddeen Usman has been appointed the Chairman of the Board, Citibank Nigeria Limited effective July 20, 2022.

Usman had served on the Board of Citibank Nigeria Limited as an Independent non-Executive Director since 2017.

In a statement on Tuesday, the Bank explained that Usman is to replace Mr. Olayemi Cardoso who retired from the Board, after 12 years as Chairman.

It stated that as Chairman, Cardoso led with distinction and ensured the franchise maintained high standards during his tenure – a leadership style that it noted had been consistent over the course of a very distinguished career within Nigeria’s private, public, and not-for-profit sectors.

Commenting on his retirement, it quoted Cardoso to have expressed gratitude to the shareholders, board, management and staff of Citibank Nigeria for their dedication and support during his time as Chairman.

He added, “I am honoured and humbled to have served alongside an outstanding team. Citi’s footprint in my personal and professional journey remains indelible, and I remain a dedicated alumnus of the bank.”

Cardoso also expressed pleasure over the appointment of Usman.

According to Cardoso, “Dr. Usman’s exemplary leadership both within the private and public sector is well documented. I am convinced that his dedication to the pursuit of excellence will serve the bank well as it enters a new leadership phase.”