CBN champions Africa’s financial resilience in Cairo summit
Abdullateef Fowewe
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has called for a bold push toward stability and sustainability in Africa’s financial systems, spotlighting Nigeria’s reform drive amid growing climate risks.
In a high-level dialogue on February 15 in Cairo, Cardoso joined Egypt’s Central Bank Governor Dr. Hassan Abdalla and the International Finance Corporation (IFC) under Egypt’s 30by30 programme. The talks highlighted Africa’s urgent need for resilient finance.
“As Governor Cardoso emphasised, resilience starts with credibility,” the CBN statement noted in a statement on Wednesday.
“In Nigeria, disciplined and transparent reforms are strengthening macroeconomic fundamentals and boosting confidence in the financial system — laying the groundwork for sustainable growth.”
Cardoso stressed that stability must pair with climate vigilance, “Climate risk is financial risk. From sovereign assessments to food security, climate dynamics are reshaping economic outcomes across Africa. Integrating climate considerations into supervision, capital allocation, and long-term strategy is therefore essential.”
The CBN reaffirmed its dedication through partnerships, “Through deeper collaboration with the Central Bank of Egypt and partners across the World Bank Group, the Central Bank of Nigeria remains committed to building a resilient, risk-aware financial architecture — advancing green finance, strengthening cross-border cooperation, and positioning Africa not just to withstand shocks, but to thrive in a changing global economy.”
Accompanying Cardoso, CBN Deputy Governor for Economic Policy Dr. Muhammad Sani Abdullahi joined a panel on regulatory frameworks for climate risk in emerging markets.
