The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has restated the apex bank’s resolve to sustain macroeconomic stability, strengthen the banking sector, and position Nigeria as a leading investment destination.
Cardoso gave the assurance during a fireside chat moderated by Andreas Voss, Chief Country Representative of Deutsche Bank Nigeria, at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos. His remarks were contained in a statement by Hakama Sidi-Ali, Acting Director of the CBN’s Corporate Communications Department.
According to him, the ongoing recapitalisation of Nigerian banks is progressing well and will produce stronger financial institutions capable of withstanding shocks and financing growth.
“Headline inflation is currently elevated. However, it is decreasing as a consequence of collective efforts. It is anticipated that the advantages of the CBN tightening posture will persist. We will protect the stability that has been re-established in the financial system with the utmost zeal. Our primary objective is to maintain that stability while simultaneously addressing inflation and ensuring that the financial system is sufficiently resilient to facilitate corporate lending and investment,” Cardoso said.
On high lending rates and their effect on investment, the CBN governor noted that there was substantial potential for interest rates to drop as inflation continues to ease and markets become more efficient in capital allocation.
“That is the environment in which stronger corporate lending and higher levels of investment will naturally follow,” he said.
Cardoso explained that the bank’s recapitalisation directive, which compels lenders to raise their minimum capital base, is specifically designed to fortify the financial system and ensure it can support broader economic activities.
He further stressed the importance of technology-driven solutions in expanding financial inclusion, tackling poverty, and strengthening Nigeria’s fintech ecosystem.
Highlighting the growing synergy between monetary and fiscal authorities, Cardoso said the CBN is collaborating more closely with the Ministries of Finance, Industry, Trade and Investment, and the Budget Office.
“This collaboration will enable the country to maintain reforms and achieve long-term stability,” he added.
