The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, says Nigeria’s participation in the International Monetary Fund, IMF, and World Bank annual meetings in Thailand will help strengthen financial relationships, improve trade and attract investment.
Cardoso said the engagements were designed to deepen Nigeria’s financial ties with Asian economies, strengthen institutional relationships and improve the financial infrastructure needed to support trade and investment.
The CBN governor disclosed this in a statement posted on his X handle on Tuesday, reflecting on Nigeria’s recent economic engagements across Asia.
He explained that Nigeria’s participation in the annual meetings in Bangkok was part of a broader programme that also included engagements in Singapore and China, aimed at expanding the country’s financial and economic partnerships across the region.
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“Economic stability is not an end in itself. It must create the conditions for investment, enterprise and sustainable growth,” he said.
He noted that the CBN deliberately used the IMF and World Bank meetings as an opportunity to strengthen Nigeria’s financial relationships across Asia rather than treating the gathering as an isolated international event.
Cardoso said the engagements came amid signs of improvement in Nigeria’s economic and financial conditions, including easing inflation, rising external reserves and the recapitalisation of banks.
He disclosed that inflation moderated to 14.63 per cent in September, compared with nearly 35 per cent at the end of 2024.
The governor also said Nigeria’s external reserves had exceeded $55 billion, their highest level in 18 years, while Nigerian banks raised N4.65 trillion through recapitalisation, largely from domestic investors.
According to him, these developments provide a foundation for strengthening confidence in the economy and expanding opportunities for investment and economic growth.
However, Cardoso acknowledged that the improvements in economic indicators had not eliminated the financial pressures facing many Nigerians.
“These are important milestones, but I remain conscious of the economic pressures many Nigerians continue to face,” he said.
He added that the CBN’s responsibility was to sustain the progress recorded so far and ensure that economic stability increasingly translated into tangible opportunities for Nigerians.
DAILY POST reports that the 2026 IMF and World Bank Annual Meetings were held from October 12 to 18, 2026.
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