Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reiterated the apex bank’s commitment to strengthening the financial system, sustaining macroeconomic stability, and positioning Nigeria as a leading investment destination.
Speaking at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, Cardoso said the ongoing bank recapitalisation programme is progressing well and will deliver stronger institutions capable of financing economic growth and withstanding external shocks.
He noted that recent reforms and naira stabilisation efforts have renewed investor confidence, even as inflation—though still high—continues to trend downward due to sustained policy measures.
“We will protect the stability that has been re-established in the financial system with the utmost zeal,” Cardoso said. “Our priority is to maintain that stability while tackling inflation and ensuring banks are resilient enough to support corporate lending and investment.”
Responding to concerns over high lending rates, the CBN governor said rates would moderate as inflation declines and markets allocate capital more efficiently, paving the way for increased credit and investment.
Cardoso added that the recapitalisation directive requiring banks to raise their minimum capital base is designed to strengthen the sector and expand its capacity to fund diverse economic activities.
He also highlighted efforts to boost financial inclusion, support the fintech ecosystem, and roll out technology-driven solutions to combat poverty.
He welcomed closer collaboration with fiscal authorities such as the Ministry of Finance, Ministry of Trade and Industry, and the Budget Office, describing it as crucial for sustaining reforms and achieving long-term stability.
Eurocham Nigeria President Yann Gilbert commended the forum for fostering dialogue between European businesses and Nigerian policymakers, reaffirming members’ commitment to invest, create jobs, and build enduring partnerships.
