The Central Bank of Nigeria (CBN) is taking its reform narrative directly to global investors, projecting policy stability, macroeconomic discipline and renewed confidence as it seeks to attract sustained capital inflows into Africa’s largest economy.
Under the leadership of Governor Olayemi Cardoso, the apex bank has intensified efforts to reposition Nigeria as an attractive investment destination, emphasising credible reforms, transparency and long-term economic stability.
The strategy, according to the CBN, is aimed at restoring investor trust after years of volatility and positioning the economy for durable growth. In recent engagements with international financial institutions, portfolio investors and development partners, the CBN has highlighted key policy measures undertaken to stabilise the foreign exchange market, curb inflationary pressures and strengthen monetary policy transmission.
Officials say these reforms are already beginning to yield positive signals, with improving market confidence and gradual capital re-entry. A central plank of the reform agenda is the restoration of discipline in the foreign exchange market.
By moving towards a more transparent, market-driven FX framework, the CBN has sought to eliminate distortions, reduce arbitrage opportunities and ensure better price discovery. This, the bank argues, is critical to rebuilding credibility with foreign investors who prioritise predictability and policy consistency.
Beyond FX reforms, the CBN has also underscored its commitment to orthodox monetary policy as a tool for macroeconomic stability. Tighter monetary conditions, including adjustments to interest rates and liquidity management tools, are being deployed to rein in inflation and anchor expectations.
According to the bank, these measures signal a clear break from past practices and demonstrate its resolve to prioritise price stability. Governor Cardoso has repeatedly stressed that restoring confidence is not a short-term exercise but a continuous process that requires consistency and clear communication.
As part of this approach, the CBN is engaging more proactively with the global investment community, explaining policy decisions, outlining reform timelines and providing data-driven insights into the Nigerian economy. Analysts note that this outward-facing engagement marks a shift in tone and strategy for the apex bank, which is now keen to align Nigeria’s monetary framework with global best practices.
By articulating a coherent reform story to international audiences, the CBN hopes to attract not just speculative portfolio flows, but also longer-term investments that support productive sectors of the economy.
The bank has also linked monetary stability to broader structural reforms being pursued by the Federal Government, including fiscal consolidation, subsidy reforms and efforts to improve the business environment. CBN officials argue that synergy between monetary and fiscal authorities is essential for creating a stable macroeconomic environment that can sustain investor interest.
While challenges remain, including elevated inflation and external vulnerabilities, the CBN insists that the direction of policy is clear and irreversible. The message to global investors, it says, is that Nigeria is serious about reform, committed to discipline and open for sustainable business.
As the apex bank continues to take its reform message beyond Nigeria’s borders, market watchers will be keenly observing whether renewed confidence translates into consistent capital inflows that can support growth, stabilise the naira and strengthen the country’s external position.
