The Central Bank of Nigeria (CBN) has noted progress in stabilizing the country’s foreign exchange (FX) market and controlling inflation.
Governor Olayemi Cardoso shared this during a visit by a delegation from the Harvard Africa Trek, marking the first time such a group had engaged with the CBN.
A statement released by the CBN on Tuesday confirmed that Cardoso, an alumnus of the Harvard Kennedy School (HKS) and the first African elected to the global HKS Alumni Board of Directors, assured that the bank remains committed to implementing policy-driven solutions to strengthen trust in Nigeria’s financial system.
“As we reset the Bank, we are committed to being a hub for thought leadership. The exposure you gain from institutions like Harvard is invaluable, and we see this as an opportunity to build long-term alliances,” he said.
Cardoso acknowledged the economic difficulties Nigeria has faced in recent times but noted that key indicators suggest positive changes. He pointed out that ongoing reforms are bringing greater stability to the FX market and gradually easing inflationary pressures.
The CBN governor also pointed to recent visits from major financial institutions, including JP Morgan, Citibank, and the International Monetary Fund (IMF), as a sign of renewed investor confidence in Nigeria’s economy.
“These are individuals who base their decisions on data and trends, not sentiment. Their interest reaffirms that we are on the right path,” he added.
