Olayemi Cardoso, Governor of Central Bank of Nigeria (CBN), has assured investors that the bank’s reforms are laying a foundation for macroeconomic stability.
Gatekeepers News reports that Cardoso gave the assuarnace at a forum hosted by CBN in partnership with J.P. Morgan, Nigerian Exchange Group (NGX), and Africa Private Capital Association (AVCA) at Nasdaq MarketSite in New York on Thursday.
The event was held ahead of 2025 spring meetings of International Monetary Fund (IMF) and World Bank Group (WBG). It was attended by global investors, diaspora leaders, and senior financial stakeholders who examined Nigeria’s macroeconomic prospects and its ongoing reform progress.
In his keynote address titled ‘The Nigeria Investment Agenda: Pathways for Growth & Global Partnerships’, Cardoso outlined a reform agenda anchored on monetary tightening, transparency in foreign exchange (FX) market, and strengthened financial governance.
According to him; the initiatives are establishing the foundation for sustainable macroeconomic stability and heralding a new era of transparency and confidence.
The CBN Governor reaffirmed the bank’s unwavering commitment to rebuilding credibility through orthodox monetary policy, transparency, and consistency.
He said, “We inherited a crisis of confidence but chose a different path. We’re not turning back.”
During a discussion with Nobel Laureate economist James Robinson and Professor Richard Pearson of the University of Chicago, Cardoso elaborated on his vision to re-establish CBN as a credible and trusted institution, rooted in domestic excellence and respected internationally.
CBN Deputy Governor for Economic Policy, Muhammad Sani Abdullahi provided updates on Nigeria’s macroeconomic condition, highlighting the significant growth in FX turnover, early indications of disinflation, and a steady build-up in external reserves.
He said, “With a market-determined exchange rate and a transparent, rules-based policy framework, confidence is gradually being restored in Nigeria’s economy.”
Nkiru Balonwu, strategic adviser to the CBN governor, described the forum as a significant step in the bank’s effort to enhance stakeholder engagement.
She said, “Today is more than a conversation. It’s about opening the books on the CBN’s transformation story under Governor Cardoso – sharing the facts, interrogating the progress, and looking ahead together at what more can be done to build sustainable partnerships and unlock long-term capital.
One of the key highlights of the event was a panel session, titled, ‘Repricing Nigeria: Assessing the Scope for Sustained Change’, which featured global finance leaders including Joyce Chang, chair of global research at J.P. Morgan Chase; Jason Rekate, global co-head of corporate banking at Citi; Razia Khan, chief economist for Africa and the Middle East at Standard Chartered; and Ahmad Zuaiter, co-founder and CIO of Jadara Capital Partners.
The panel, moderated by Gavin Serkin, founder of New Markets Media and Intelligence, assessed the investment climate in Nigeria, with participants noting renewed international interest spurred by strengthened fundamentals, improved governance, and clearer policy direction.
According to CBN in a statement; discussions at the forum focused on assessing reform progress and charting practical pathways to deepen partnerships, mobilise long-term capital, and re-establish the bank’s reputation as a credible and respected institution at home and abroad.
