2 weeks Ago By Tony Chukwunyem
Ahead of the International Monetary Fund (IMF) and World Bank Group (WBG) Spring Meetings scheduled to begin Monday, April 21, 2025, the Central Bank of Nigeria (CBN), in partnership with J.P. Morgan, the Nigerian Exchange Group (NGX), and the Africa Private Capital Association (AVCA), hosted a high-profile global forum at the Nasdaq MarketSite in New York on Thursday, April 17, 2025.
According to a press release issued by the apex bank, the forum, titled “The Nigeria Investment Agenda: Pathways for Growth & Global Partnerships,” brought together global investors, diaspora leaders, and senior financial stakeholders to examine Nigeria’s macroeconomic outlook and ongoing reform initiatives. In his address, CBN Governor Olayemi Cardoso outlined a comprehensive reform agenda focused on monetary tightening, foreign exchange market transparency, and enhanced financial governance. He emphasized that these reforms are laying the groundwork for sustainable macroeconomic stability and ushering in a new era of transparency and confidence.
Governor Cardoso reaffirmed the CBN’s commitment to rebuilding credibility through orthodox monetary policy, transparency, and consistency. “We inherited a crisis of confidence but chose a different path. We’re not turning back,” he declared.
During a fireside chat with Nobel Prize-winning economist James Robinson, Reverend Richard L. Pearson Professor at the University of Chicago, Cardoso elaborated on his vision to restore the CBN as a credible, trusted institution — grounded in domestic excellence and respected globally. Also speaking at the event, Muhammad Sani Abdullahi, Deputy Governor for Economic Policy at the CBN, delivered a macroeconomic update, citing significant increases in foreign exchange turnover, signs of disinflation, and strengthening external reserves.
“With a market-determined exchange rate and a transparent, rules-based policy framework, confidence is gradually being restored in Nigeria’s economy,” he stated. Welcoming participants to the forum, Nkiru Balonwu, Adviser to the CBN Governor on Stakeholder Engagement and Strategic Communication, described the gathering as a pivotal moment in the Bank’s broader engagement strategy. “Today is more than a conversation,” she said.
“It’s about opening the books on the CBN’s transformation under Governor Cardoso — sharing the facts, interrogating the progress, and looking ahead together to build sustainable partnerships and unlock long-term capital.” A major highlight of the forum was a panel discussion titled “Repricing Nigeria: Assessing the Scope for Sustained Change.” Moderated by Gavin Serkin, Founder of New Markets Media & Intelligence, the panel featured global financial experts: Joyce Chang, Chair of Global Research at JPMorgan Chase; Jason Rekate, Global Co-Head of Corporate Banking at Citi; Razia Khan, Chief Economist for Africa & Middle East at Standard Chartered; and Ahmad Zuaiter, Co-Founder & CIO of Jadara Capital Partners.
The panelists offered insights on Nigeria’s investment climate, noting renewed global interest driven by improved fundamentals, stronger governance, and clearer policy direction. The CBN Board and Monetary Policy Committee (MPC) were represented by U.S.
-based diaspora members —Robert Agbede, Melvin Ayogu, and Aloysius Ordu — underscoring the Bank’s commitment to global engagement and leveraging Nigerian talent worldwide. Temi Popoola, Group CEO of NGX, moderated the Q&A session, while Olubukola Akinwunmi, Director of Banking Supervision at the CBN, delivered the closing remarks. According to the statement, the forum emphasized substantive dialogue and forward-looking perspectives — engaging critical voices, assessing ongoing progress, and identifying what is needed to build lasting partnerships and attract long-term capital.
“Central to this endeavor is a clear objective: reestablishing the CBN as a credible, trusted institution — respected globally and dedicated to excellence at home,” the statement added..
