CBN Governor: Nigeria’s Economic Stability Creates New Investment Opportunities

CBN Governor: Nigeria’s Economic Stability Creates New Investment Opportunities

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has highlighted recent reforms in exchange rate management, monetary policy and financial system stability as key drivers of Nigeria’s improving economic outlook.

Speaking to business leaders, Cardoso said the reforms had strengthened the country’s external position, improved investor confidence and created new opportunities for investment and economic growth.

He disclosed that Nigeria’s gross external reserves had risen organically to $52 billion, providing about 10 months of import cover, while net foreign reserves had increased to approximately $40 billion.

According to the CBN Governor, the foreign exchange market is now sufficiently liquid to operate with minimal intervention, while the apex bank remains committed to achieving $1 billion in monthly diaspora remittances by the end of 2026.

He also revealed that the ongoing recapitalisation of banks had attracted approximately ₦4.65 trillion in fresh capital, strengthening the resilience of Nigeria’s banking sector through improved regulation and oversight.

Cardoso said confidence in the country’s payment system had also improved significantly, with Nigerians now able to use their bank debit cards seamlessly for transactions abroad.

He further noted that as inflation moderates and interest rates gradually ease, banks are expected to expand lending to productive sectors of the economy, particularly small and medium-sized enterprises, while maintaining sound risk management practices.

The CBN Governor assured that the apex bank would continue working with financial institutions to strengthen their capacity and align Nigeria’s banking system with global standards.

Addressing Nigerian business leaders, Cardoso urged chief executive officers to take advantage of the improving macroeconomic environment and play an active role in driving investment and growth.

“Where we are now, we have achieved hard-earned stability. With stability comes the potential for investment, and with investment comes growth. All our local CEOs should be part and parcel of that train that is moving,” he said.

CBN Governor: Nigeria’s Economic Stability Creates New Investment Opportunities