The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that ongoing monetary and structural reforms are strengthening Nigeria’s financial system and improving investor confidence.
Cardoso made the remarks in Cairo during the Egypt 30by30 Programme organised by the Central Bank of Egypt in collaboration with the International Finance Corporation.
According to the CBN governor, disciplined and transparent economic policies are stabilising macroeconomic conditions in Nigeria and laying the foundation for sustainable growth.
“In Nigeria, disciplined and transparent reforms are strengthening macroeconomic fundamentals and boosting confidence in the financial system,” he stated.
Cardoso explained that measures aimed at stabilising the foreign exchange market, tightening monetary policy, and controlling inflation are improving credibility in the financial sector. He emphasised that strong institutions, consistent policies, and transparent markets are essential for resilient economies.
He also called on African central banks and development finance institutions to adopt growth strategies that encourage industrialisation, job creation, and climate resilience.
Cardoso noted that climate-related risks are increasingly influencing financial stability across Africa, affecting sovereign credit ratings, inflation trends, food security, and the cost of capital.
Despite contributing minimally to global emissions, he said African countries face significant climate-related economic pressures. However, he identified opportunities in renewable energy, biodiversity, expanding financial markets, and the continent’s youthful population as drivers of inclusive growth.
The CBN governor urged African nations to strengthen regional cooperation, stressing that collective action is necessary to build sustainable and resilient financial systems.
The apex bank reaffirmed its commitment to advancing green finance initiatives and enhancing cross-border collaboration through partnerships with institutions across the World Bank Group.
