Nigeria, Oct. 14 -- Africa Finance Corporation (AFC), the continent's leading multilateral financial institution, has appointed Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), as the chairman of its board of directors.

Mr Cardoso will succeed Ireti Samuel-Ogbu, who will remain a board member, according to a statement from the corporation on Wednesday.

Mr Cardoso's appointment comes as the AFC continues to expand its role in financing and developing strategic infrastructure assets that address Africa's infrastructure gap, accelerate industrialisation and strengthen regional integration.

"Mr Cardoso shares our conviction that Africa's lasting stability depends on its productive capacity. His leadership will strengthen...