No Going Back On Our Economic Reforms, Cardoso Declares
The Central Bank of Nigeria (CBN) showcased its bold reform agenda at a high-profile global forum at the Nasdaq MarketSite in New York, just days before the International Monetary Fund (IMF) and World Bank Group (WBG) Spring meetings.
This strategic summit, in collaboration with JP Morgan, the Nigerian Exchange Group (NGX), and the African Private Capital Association (AVCA), marked a pivotal moment in Nigeria’s economic renaissance.
Under the banner “The Nigeria Investment Agenda: Pathways for Growth & Global Partnerships,” the forum attracted an influential assembly of global investors, diaspora leaders, and financial powerbrokers eager to witness Nigeria’s economic transformation firsthand.
In his address, the CBN Governor Olayemi Cardoso unveiled his visionary reform blueprint that has already begun reshaping Nigeria’s financial landscape through decisive monetary tightening, revolutionary FX market transparency, and fortified financial governance.
“These reforms aren’t merely policy adjustments,” Cardoso emphasized, “but foundational pillars rebuilding Nigeria’s economic architecture for generations to come.”
Governor Cardoso declared the CBN’s determination to restore market confidence. “We inherited a crisis of confidence but chose a different path. We’re not turning back.”
His resolute stance signaled Nigeria’s irreversible commitment to financial orthodoxy and stability.
The governor’s vision gained further dimension during a fireside chat with Nobel Prize-winning economist Dr. James Robinson.
During the chat, Cardoso articulated his ambitious mission to transform the CBN into a world-class institution commanding respect on the global stage while delivering excellence at home.
Reinforcing this narrative of renewal, Deputy Governor Muhammad Sani Abdullahi presented compelling evidence of Nigeria’s economic revival, highlighting surging foreign exchange turnover, promising disinflation signals, and strengthening external reserves.
“We’re witnessing the green shoots of recovery,” he remarked. “With our market-determined exchange rate and transparent, rules-based policy framework, international confidence in Nigeria’s economy is unmistakably returning.”
The Adviser to the CBN Governor on stakeholder engagement and strategic communication, Dr. Nkiru Balonwu, described the forum as a watershed moment in Nigeria’s engagement with global markets.
“Today represents more than a conversation, it’s an unprecedented opening of the books on the CBN’s transformation journey under Governor Cardoso,” she declared.
“We’re not just sharing progress; we’re co-creating the roadmap for sustainable partnerships that will unlock Nigeria’s true economic potential.”
Another high point of the forum was the panel discussion “Repricing Nigeria: Assessing the Scope for Sustained Change.” Moderated by Gavin Serkin of New Markets Media & Intelligence.
The star-studded panel featured Joyce Chang of JPMorgan Chase, Jason Rekate of Citi, Razia Khan of Standard Chartered, and Ahmad Zuaiter of Jadara Capital Partners.
The forum further demonstrated Nigeria’s global reach through the participation of distinguished diaspora members Mr. Robert Agbede, Prof. Melvin Ayogu, and Dr. Aloysius Ordu, representing the CBN Board and Monetary Policy Committee.
No Going Back On Our Economic Reforms, Cardoso Declares is first published on The Whistler Newspaper
