How Nigeria can regain the trust of international markets and foreign investors —Cardoso

Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) has underlined the importance of transparency and trust in regaining the confidence of international markets and foreign investors.

He said strengthening a resilient financial system was also key to attracting foreign investment into the country, even as he highlighted the critical need for policies that directly benefit the lives of ordinary citizens.

Speaking at the 2024 Business Day CEO Forum in Lagos on Thursday, Cardoso stressed that policymakers must prioritize creating stable and prosperous economic conditions that are accessible to all citizens.

“Whatever we do must have an impact on the general public,” Cardoso stressed.

He highlighted the importance of transparency and trust in strengthening a resilient financial system and regaining the trust of international markets and foreign investors, as stated in a statement released on Friday.

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Cardoso outlined the CBN’s collaborative efforts with the Fiscal Authority to ensure transparency and address sector-specific concerns raised by Nigerians across various sectors of the economy.

On the ongoing bank recapitalization program, Cardoso outlined the CBN’s strategy to encourage banks to seek fresh capital from external sources, while emphasizing the importance of transparency in the banking system.

The forum included presentations and panel discussions on topics such as “Thriving in an Era of Continuous Reinvention” and “Leadership for the Next Century: Global Trends and Insights for Nigeria,” which brought together global leaders to discuss leadership and innovation.

Frank Aigbogun, CEO of BusinessDay Media Limited, highlighted the forum’s mission to address economic and development challenges, emphasizing the role of leadership and innovation in driving growth.

During the lively chat, Cardoso responded to questions from Aigbogun, discussing the CBN’s initiatives to curb inflation and boost economic confidence while urging policymakers to improve the socio-economic environment for ordinary Nigerians.

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