Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured investors that ongoing reforms will strengthen the country’s financial system, ease inflation, and reinforce Nigeria’s position as a leading investment hub.
Speaking at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, Cardoso said the Bank’s recapitalisation programme for commercial lenders was “making good progress” and would produce stronger, shock-resistant institutions capable of driving growth.
He noted that recent reforms and the relative stability of the naira had boosted investor confidence, while inflation, though still high, was on a downward path.
“We will protect the stability that has been re-established in the financial system with the utmost zeal,” he said.
On lending costs, the governor admitted that high interest rates remain a challenge but expressed optimism that they would decline as inflation eases and markets allocate capital more efficiently.
Cardoso emphasised that the recapitalisation directive—requiring banks to raise their minimum capital—was designed to fortify the financial sector and expand its capacity to finance economic activity.
He also highlighted the role of technology and fintech in widening financial access, tackling poverty, and deepening inclusion.
He welcomed closer collaboration with fiscal authorities, including the Finance Ministry, the Trade and Industry Ministry, and the Budget Office, describing it as vital to sustaining reforms and long-term stability.
On Nigeria’s global outlook, Cardoso stressed the urgency of consolidating domestic reforms amid shifting geopolitics.
“Nigeria is a large, attractive market, strategically located at the gateway to West Africa. This makes stability at home all the more critical,” he said.
Eurocham President Yann Gilbert praised Nigeria’s reform momentum and described the chamber as a bridge between European businesses and policymakers.
“Our members are profoundly dedicated to this nation. We want to build enduring partnerships, create jobs, and invest,” Gilbert said.
The forum provided a platform for dialogue on strengthening investor confidence and unlocking new opportunities between Nigeria and Europe.
