Nigeria: Credible policy, transparent market key to restoring investors confidence – Cardoso

By: ThinkBusiness Africa

The Central Bank of Nigeria (CBN) governor, olayemi Cardoso emphasized that sound government policies, transparency and credible governance are the forces driving huge investors confidence in Nigeria.

On Tuesday, at the CBN executive seminar, while speaking on the theme “Deepening Reforms: Paths to Disinflation and Sustainable Growth” the apex  bank chief told economic thought leaders gathered at the event that, transparency and fairness are vital to the Bank’s operations, emphasising that “At the CBN, you no longer need to ‘know somebody’ to get your work done.” He said.

He noted  that the apex bank are in collaboration with fiscal authorities (including the ministry of finance) to bring down production cost, enhance competitiveness and increase industrial outputs in the country.

The apex bank governor showed deep optimism in the country’s economic trajectory, noting that “We are moving in the right direction, but it will take collective effort and focus to achieve shared prosperity.” He said.

Under Mr. Cardoso leadership at the CBN Nigeria has been on the part of disinflation and steady increase in its foreign exchange (FX) reserves.

Headline Inflation peaked 34% last year December, but has seen steady decline since this year. Nigeria has eased for 10 consecutive months in 2025. Inflation opened this year at 24.48% and eased to 18.02% in September according to the Nigerian bureau of statistics (NBS).

Following the clearing of $7 billion FX backlog owed by the previous administration, Nigeria’s FX reserves has been on a steady increase as investors now see the country as a top investment destination in Africa.

FX reserves grossed over $43 billion in November 2025 (over 11 months of import cover), from $32 billion in 2024 (over 33% increase) and is projected to reach $45 billion before the end of year.

Last week, Cardinalstone, an investment power house in their macroeconomic filing for Nigeria’s $2.35 billion Eurobond sales projected the FX reserves to climb $45 billion dollars before the end of the year, citing strong investor confidence and increased foreign portfolio investments.

The eurobond was 4 times oversubscribed, attracting over $13 billion from global investors, further demonstrating huge investor appetite for the west African country’s debt security.

The foreign exchange rate reforms championed by the governor helped Nigeria’s local currency (Naira) attain a high level of stability in face of global uncertainties.

The Naira has appreciated more than 7% against the U.S dollar this year, and currently trades at N1437 per dollar. Below the N1500 psychological zone.