Cardoso highlights Nigeria’s reform gains at IMF-World Bank Spring Meetings

Abdullateef Fowewe

Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has affirmed Nigeria’s steady progress on economic reforms following the 2026 IMF-World Bank Spring Meetings.

Giving an update on the outcome of the meeting on Monday, CBN, in a statement, quoted Cardoso as saying, “As the 2026 Spring Meetings concluded in Washington, the CBN remains firmly on track, focused on building on existing gains, sustaining reforms, and strengthening institutional capacity.”

Nigeria showcased strong leadership, with Cardoso noting, “Despite global uncertainty, Nigeria’s reform progress continues to stand out. Our policies are strengthening the naira, boosting reserves, and building investor confidence and capital inflows.”

Key results include lower inflation, stable FX markets, and a banking recapitalisation that raised ₦4.65 trillion—72.55% domestic and 27.45% foreign-funded.

Cardoso added, “Reforms are delivering results: lower inflation, stable FX markets, and stronger monetary policy are helping to build a solid foundation for long-term growth.”

The CBN aims to reach $1 billion in monthly remittances by year-end and proudly hosts the African Monetary Institute (AMI) in Abuja to deepen monetary integration.

“Our focus is unwavering: sustain reforms, strengthen institutions, and ensure data-driven decisions,” Cardoso emphasised.