By Chinwendu Obienyi
The Governor, Central Bank of Nigeria (CBN), Olayemi Cardoso has reiterated that the apex bank is taking deliberate steps to restore macroeconomic confidence and build long-term economic resilience.
Cardoso, in a series of tweet on his X handle recently, while pointing out key developments—including the launch of a diaspora-focused Bank Verification Number (BVN) platform and decisions from the 300th Monetary Policy Committee (MPC) meeting, said the apex bank remains committed to reforming its internal processes, deepening financial inclusion, and sustaining market stability.
He said, “We are building a Central Bank that is pragmatic, forward-looking, and people-centric. Our focus remains clear: to restore confidence, unlock opportunity, and lay the foundation for long-term economic stability.”
On May 13, the CBN launched the Non-Resident Bank Verification Number (NRBVN) platform, in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS). The platform enables Nigerians living abroad to register for BVNs remotely, a move long demanded by the diaspora community.
“This is a breakthrough,” Cardoso noted. “It removes longstanding barriers to financial access for our diaspora while aligning with our broader remittance and inclusion goals. At the same time, we are ensuring strong KYC and AML safeguards remain in place.”
He added that decisions taken at the just concluded MPC meeting reflects its commitment to consolidating recent macroeconomic gains.
Citing positive indicators such as moderating inflation, stabilizing foreign exchange markets, and strengthening external reserves, the CBN Governor cautioned that food and energy prices, along with global demand fluctuations, remain key risks. The Bank’s reform agenda has earned national and continental recognition. At the 2025 Nairametrics Capital Market Choice Awards, the CBN was named Market Reform Initiative of the Year, while Cardoso received the Transformative Leadership Award.
At the African Banker Awards 2025 in Abidjan, Cardoso was named Central Bank Governor of the Year, with judges praising reforms in FX management, banking recapitalisation, and regulatory strengthening.
These recognitions reflect the tireless work of teams across the Bank and the financial ecosystem,” he said. “Together, we are rebuilding trust and economic resilience.”
The apex bank governor concluded by acknowledging that challenges remain but reaffirmed his confidence in the bank’s direction.
“We are making steady, deliberate progress toward the stronger, more resilient economy Nigerians expect and deserve,” Cardoso said.