Shamsuddeen Usman named chairman of Citibank Nigeria


Shamsuddeen Usman, Nigeria’s former finance minister has been appointed chairman of the board Citibank Nigeria limited effective July 20, 2022.

He is the third chairman of the bank in Nigeria since inception. Usman has served on the board of Citibank Nigeria Limited as an independent non-executive director since 2017. Usman replaces Olayemi Cardoso who has retired from the board, after 12 years as chairman.

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

Commenting on his retirement, Cardoso expressed his gratitude to the shareholders, board, management and staff of Citibank Nigeria for their dedication and support during his time as Chairman. “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 his pleasure at the appointment of Usman.

According to Cardoso, “ 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” Usman is an erudite scholar with nearly four decades of professional experience in both public and private sectors, including Banking, Management Consulting and Economics Advisory.
Read also: Shamsudeen challenges public officers on asset declaration

As chairman, Usman, together with the board, will continue to provide oversight of the franchise’s leadership team and drive performance.

Speaking on his appointment, Usman expressed his gratitude to Cardoso for his years of service.

“Cardoso’s selfless leadership has contributed significantly to the many milestones that the bank has achieved over the past 12 years.” Usman added: “I want to thank the Board and shareholders for their support, as we continue to focus on consistently delivering excellence to our key stakeholders.”

Usman is a former minister of finance, former minister of national planning, and former deputy Governor of the Central Bank of Nigeria. During his time in public service, he was responsible for a number of significant national initiatives, including the development of Nigeria’s long-term development strategy, Nigeria Vision 2020 and Nigeria’s Monitoring and Evaluation Framework.

On retirement from public service, Usman has been involved in providing financial and management advisory services. Among many projects handled by his firm are the designs of a short-medium term strategic

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.


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