CBN's Cardoso Discusses Economic Reforms at IMF Meeting

Olayemi Cardoso, the Governor of the Central Bank of Nigeria, emphasized the importance of building on existing gains and strengthening institutions for long-term economic stability during an interview at the IMF World Bank Spring Meeting. He highlighted Nigeria's reform agenda, which focuses on sustaining macroeconomic stability, managing inflation, and enhancing the banking sector's resilience.

Notable achievements include the completion of bank sector recapitalization in March 2026, raising ₦4.65 trillion to bolster capital buffers. Cardoso noted that 72.55% of the recapitalization was from domestic sources, reflecting increased investor confidence.

He also discussed the ongoing efforts to improve monetary policy frameworks and the importance of international cooperation, particularly in establishing the African Central Bank and enhancing monetary cooperation across Africa. The meeting underscored Nigeria's commitment to reform and the need for a resilient financial system amid global economic challenges.