Nigeria is working to anchor its economic future on stability, resilience, and investor confidence, with banking reforms and tighter monetary policies taking center stage. At the heart of this effort is the Central Bank of Nigeria’s recapitalisation mandate, designed to produce stronger institutions capable of financing growth while withstanding shocks.
Central Bank Governor Olayemi Cardoso, speaking at the Eurocham Nigeria C-Level Forum in Lagos, said the country’s financial system has regained stability, and the priority now is to consolidate those gains while addressing inflation and unlocking fresh investment inflows.
“Our goal is to sustain stability while ensuring banks remain strong enough to support corporate lending and broader economic activities,” he explained.
Banking Sector Transformation
The recapitalisation exercise, already underway, is set to reshape the banking landscape by compelling commercial banks to expand their capital base. Cardoso stressed that this is not simply a compliance measure but a strategic move to build resilience, boost lending, and attract investors who value robust institutions.
Inflation and Investment Outlook
Though inflation remains elevated, Cardoso noted a downward trend, attributing it to disciplined monetary tightening. He acknowledged investor concerns about high lending rates but insisted that lower rates will follow as inflation cools and markets allocate capital more efficiently.
Digital Future and Financial Inclusion
Beyond monetary policy, Cardoso highlighted the role of technology in Nigeria’s financial future. Expanding fintech ecosystems and deepening financial inclusion, he said, will be vital to reducing poverty and widening access to credit for individuals and businesses.
Nigeria’s Strategic Position
Cardoso also placed Nigeria’s reforms in a wider context, calling domestic stability essential to the country’s role as West Africa’s economic gateway.
“Nigeria is not only a major market in its own right but a launch pad to the wider continent. To harness that potential, we must first strengthen confidence at home,” he stressed.
Renewed Confidence From Europe
European businesses echoed that sentiment, with members of the European Business Chamber (Eurocham Nigeria) commending recent policy measures and the stabilisation of the naira as steps that inspire confidence.
Eurocham President Yann Gilbert said the chamber remains committed to deepening partnerships:
“We want to invest, create jobs, and build lasting partnerships. This forum reflects our shared belief in Nigeria’s long-term potential.”
