The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the Bank’s commitment to restoring macroeconomic stability, strengthening the banking sector, and positioning Nigeria as a leading investment destination.
According to him, key drivers of renewed investor confidence include the CBN’s reforms and the stabilisation of the naira, which were acknowledged by members of the EU Chambers.
Cardoso noted that while headline inflation remains elevated, it is already easing due to coordinated policy actions, adding that the benefits of the Bank’s tightening measures are expected to persist.
“We will protect the stability that has been re-established in the financial system with the utmost zeal,” he said. “Our primary objective is to maintain that stability while addressing inflation and ensuring that the financial system is resilient enough to support corporate lending and investment.”
On lending rates, the Governor admitted that high interest rates pose concerns for investment but linked them to inflationary pressures. He expressed optimism that rates could decline as inflation continues to fall and capital allocation becomes more efficient.
Cardoso stressed that the recapitalisation directive, which mandates banks to raise their minimum capital, is designed to fortify the financial system and enable it to support a wider range of economic activities.
He also highlighted the CBN’s focus on technology-driven solutions to expand financial inclusion, strengthen the fintech ecosystem, and reduce poverty.
In addition, he underscored the importance of collaboration with fiscal authorities, including the Ministry of Finance, the Ministry of Trade and Industry, and the Budget Office, noting that such partnerships will help sustain reforms and achieve long-term stability.
On Nigeria’s global positioning, the CBN Governor said:
“The urgency of addressing our own affairs is underscored by ongoing geopolitical changes. Nigeria is a large and attractive market in its own right, and also a gateway to West Africa and the wider continent. This underscores the importance of maintaining stability at home.”
In his remarks, Eurocham President Yann Gilbert described the chamber as a bridge linking European businesses with Nigerian policymakers.
“Our members are profoundly dedicated to this nation. We aspire to establish enduring partnerships, generate employment opportunities, and invest. The purpose of this forum is to foster engagement, dialogue, and solutions that enhance confidence and unleash opportunities between Nigeria and Europe,” he said.
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