Central Bank of Nigeria [CBN] Governor Cardoso Woos Foreign Investors: ‘Nigeria’s Bad Systemic Past Is Dead and Buried’

Central Bank of Nigeria Governor Olayemi Cardoso has declared that Nigeria’s “bad systemic past is dead and buried,” assuring foreign investors that reforms are laying the foundation for a transparent, stable, and investor-friendly economy.

Speaking at the Africa Capital Forum in London, Cardoso said inflation has been halved with 11 consecutive months of disinflation, and monetary policy decisions are now evidence-based and insulated from political pressure. He emphasized that investment worries are “now something of the past” as Nigeria transitions from stabilization to capital mobilization.

Key Points:

Cardoso declared that the old opaque economic system is “dead and buried,” replaced by one emphasizing liquidity, openness, and transparency.
He stressed that monetary policy is now evidence-based, with no need for political connections to conduct business with the CBN.
Seven Nigerian banks are currently operating in the UK, with 23 banks meeting the regulator’s recapitalization requirements.
The European Bank for Reconstruction and Development expressed optimism about Nigeria’s trajectory and plans to begin investments.
The forum formed part of President Tinubu’s UK state visit, showcasing Nigeria’s economic reset to global investors.

As Cardoso pitches Nigeria’s economic reforms to global investors, the CBN governor’s message is clear: the old system is gone, and a new era of transparency and stability has begun, but sustaining investor confidence will require continued policy consistency.

Sources: Premium Times