CBN Governor Highlights Nigeria’s Economic Gains at IMF–World Bank Meetings in Bangkok
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has highlighted Nigeria’s progress in restoring macroeconomic stability, rebuilding investor confidence and strengthening international financial partnerships.
Cardoso made the remarks at a press briefing marking the conclusion of the 2026 International Monetary Fund (IMF)–World Bank Annual Meetings in Bangkok, Thailand.
He disclosed that Nigeria’s headline inflation declined to 14.63 per cent in September 2026, from approximately 34.8 per cent at the end of 2024. He also noted that the country’s external reserves had exceeded $55 billion, representing an 18-year high, while formal remittance inflows were approaching $1 billion monthly.
The CBN Governor further revealed that banks had raised ₦4.65 trillion in fresh capital through the ongoing banking sector recapitalisation exercise, with domestic investors accounting for the bulk of the funds. He said these developments had been accompanied by Fitch Ratings’ revision of Nigeria’s sovereign outlook from Stable to Positive.
Reflecting on the meetings, Cardoso highlighted bilateral engagements involving the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele; IMF First Deputy Managing Director, Mr Dan Katz; and World Bank Group President, Mr Ajay Banga.
He also noted discussions with leading credit rating agencies and his participation in global policy conversations on economic resilience, monetary policy and artificial intelligence.
According to him, the CBN is also working to deepen Nigeria’s financial connections with Asian markets. These efforts include recent engagements in Singapore and discussions with the Governor of the People’s Bank of China on cross-border payments, financial technology and trade finance, ahead of a planned visit to Beijing.
Looking ahead, Cardoso reaffirmed the CBN’s commitment to sustaining the disinflation process, preserving monetary and financial stability, and building a deeper financial system with stronger international connections.
He stressed that achieving single-digit inflation remains a medium-term objective, underscoring the bank’s determination to consolidate recent gains and support a more stable economic environment.
“We came to Bangkok with evidence of Nigeria’s progress and leave with stronger international relationships and a clearer understanding of the opportunities ahead,” Cardoso said.
CBN Governor Highlights Nigeria’s Economic Gains at IMF–World Bank Meetings in Bangkok