Ahead of the IMF and World Bank Group Spring meetings set to begin on April 21, 2025, the Central Bank of Nigeria (CBN) joined forces with J.P. Morgan, the Nigerian Exchange Group (NGX) and the Africa Private Capital Association (AVCA) to organize a prominent global forum at Nasdaq MarketSite in New York on Thursday, April 17, 2025.
Titled “The Nigeria Investment Agenda: Pathways for Growth & Global Partnerships,” the forum brought together global investors, diaspora leaders, and senior financial stakeholders to assess Nigeria’s macroeconomic outlook and ongoing reform initiatives.
In his keynote address, CBN Governor Olayemi Cardoso outlined his broad reform strategy, emphasizing monetary tightening, transparency in the foreign exchange market, and strengthened financial governance. He stressed that these measures are laying the groundwork for sustainable macroeconomic stability and ushering in an era of increased transparency and confidence. “We inherited a crisis of confidence but chose a different path. We’re not turning back,” Governor Cardoso affirmed.
During a fireside chat with Nobel Prize-winning economist Dr. James Robinson, Reverend Richard L. Pearson Professor at the University of Chicago, Governor Cardoso elaborated on his vision to restore the CBN’s credibility, both domestically and internationally.
CBN Deputy Governor for Economic Policy, Muhammad Sani Abdullahi, provided a macroeconomic update, highlighting notable increases in foreign exchange turnover, signs of disinflation, and rising external reserves. “With a market-determined exchange rate and a transparent, rules-based policy framework, confidence is gradually being restored in Nigeria’s economy,” Abdullahi said.
Dr. Nkiru Balonwu, Adviser to the CBN Governor on Stakeholder Engagement and Strategic Communication, framed the forum as an essential part of the Bank’s broader strategy.
“Today is more than a conversation. It’s about opening the books on the CBN’s transformation story under Governor Cardoso – sharing the facts, interrogating the progress, and looking ahead together at what more can be done to build sustainable partnerships and unlock long-term capital,” she remarked.
A highlight of the event was the panel discussion, “Repricing Nigeria: Assessing the Scope for Sustained Change,” moderated by Gavin Serkin, Founder of New Markets Media & Intelligence. The panel featured prominent financial experts, including Joyce Chang of JPMorgan Chase, Jason Rekate of Citi, Razia Khan of Standard Chartered, and Ahmad Zuaiter of Jadara Capital Partners. They shared insights on Nigeria’s investment potential, noting the growing international interest driven by improved fundamentals, stronger governance, and clearer policy direction.
Representing the CBN Board and Monetary Policy Committee were US-based diaspora members Mr. Robert Agbede, Prof. Melvin Ayogu, and Dr. Aloysius Ordu, signaling the Bank’s global outreach and commitment to harnessing Nigerian talent abroad. Temi Popoola, Group CEO of NGX, moderated the Q&A session, and Dr. Olubukola Akinniyi Akinwunmi, Director of Banking Supervision at CBN, delivered the closing remarks.
The forum fostered engaging discussions on Nigeria’s future, focusing on progress, partnership opportunities, and strategies for attracting long-term investment, all while reinforcing the CBN’s vision of being a globally respected and credible institution dedicated to excellence.