In a renewed push to position Nigeria as a premier destination for long-term capital, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has taken Nigeria’s “reform story” directly to global investors, signalling a permanent shift toward transparency and orthodox monetary discipline.
As of Wednesday, December 24, 2025, the CBN has intensified its outreach following a series of high-level engagements at the U.S.-Nigeria Executive Business Roundtable and meetings with institutional investors in major financial hubs.
Cardoso’s message to global fund managers and business leaders centers on three pillars designed to de-risk the Nigerian market.
Reaffirming CBN’s transition toward a formal inflation-targeting framework. With headline inflation easing to approximately 20% in late 2025 (down from over 30% in 2024), Cardoso assured investors that the era of “volatility-inducing” interventions is over.
The Governor highlighted the success of the Electronic Foreign Exchange Matching System (EFEMS), which launched in late 2024. He noted that the “willing buyer–willing seller” model has successfully cleared the $7 billion backlog, restoring trust in profit repatriation.
Notably, starting in November 2025, the CBN assumed full control over the fixed-income market (settlement and trading platforms) to improve regulatory oversight and ensure that the transmission of monetary policy is seamless for foreign portfolio investors (FPIs).
Furthermore, and to back the “woo,” the CBN presented data showing that its reforms are already yielding tangible results:
| Indicator | Status (Dec 2025) | Significance |
| Foreign Reserves | Over $43 Billion | Strongest position in years; provides over 8 months of import cover. |
| Capital Inflows | $19.3 Billion (Proj.) | A 56% year-on-year increase in total capital importation for 2025. |
| Stock Market (NGX) | N10.54 Trillion | Historic 11-month transaction volume, with foreign participation up 179%. |
| Naira Stability | ₦1,450 – ₦1,500/$1 | Significant reduction in the spread between official and parallel rates. |
Investors were also briefed on several “next-phase” initiatives set to go live in the coming weeks including: the ongoing program to raise bank capital bases is on track, intended to create a more resilient financial sector capable of supporting a $1 trillion economy; the launch of the non-resident Bank Verification Number (BVN) platform is now active, allowing Nigerians in the diaspora and foreign investors to manage Nigerian assets more securely and Nigeria’s removal from the Financial Action Task Force (FATF) grey list touted as a “turning point” for the country’s global financial standing and ease of doing business.
“When credibility is rebuilt, confidence returns, capital flows, and stability takes root.” – Olayemi Cardoso, CBN Governor.
