CBN: Cardoso Says Bold Reforms Responsible For Economic Stability

Nigeria’s Central Bank Governor Yemi Cardoso says the country is now an investment destination thanks to the apex bank’s ‘bold economic reforms, which has enhanced macro-economic stability and strengthen the nation’s financial system.

The CBN governor made the remark in the speech he delivered at the conclusion of the 2025 International Monetary Fund, IMF/World Bank Spring Meetings in Washington D.C..

The meeting which started on April21 and ended this weekend  in the United States, US capital had key world business and financial leaders attending.

Cardoso said the meeting was an opportunity to showcase Nigeria’s economic progress to the world and well as exploring other ways to achieve all round economic growth for ‘Nigerians’.

According to him, the bold economic reforms undertaken by the apex bank has been globally applauded, citing Fitch, the renowned rating agency’s recent upgrade of Nigeria’s credit outlook which affirmed “our disciplined reforms and the bold steps” to stabilisng the economy.

“This past week has been one of highly productive engagements with global financial leaders, investors, and members of the Nigerian diaspora,” Cardoso said.

“The CBN delegation used the Meetings “as a platform to spotlight Nigeria’s bold economic reforms and explore further measures to enhance macroeconomic stability, strengthen our financial system, and drive inclusive growth for all Nigerians”.

Adding “Thanks to the steps taken over the past 18 months, we have strengthened our monetary buffers and positioned Nigeria to better withstand external shocks”.

“These steps have significantly bolstered investor confidence in Nigeria’s market fundamentals, with leading voices from across the global financial system going on record to affirm the country’s economic progress and renewed standing as a compelling investment destination.

“This growing confidence is further reinforced by Fitch’s recent upgrade of Nigeria’s credit outlook – underscoring international recognition of our disciplined reforms and the bold steps we are taking to restore macroeconomic stability.

“We recognize that inflation remains the most disruptive force to the economic welfare of Nigerians… our policy stance is firmly focused on bringing inflation down to single digits in a sustainable manner over the medium term.

“Our goal is to restore price stability, protect household purchasing power, and lay the foundation for long-term investment”