The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has said Nigeria’s financial sector reforms depend largely on sustained access to long-term capital from development finance institutions.
Cardoso stated this on Wednesday in Abuja while hosting a delegation from British International Investment, led by its Chair, Ms Diana Layfield, alongside the British High Commissioner to Nigeria, Mr Richard Montgomery.
According to a statement issued by the apex bank on Wednesday, the meeting formed part of efforts to deepen financial sector reforms and attract patient, long-term investment into the Nigerian economy.
“The governor reaffirmed the CBN’s commitment to macroeconomic stability, credible monetary policy, and a transparent, data-driven regulatory framework aimed at strengthening the resilience of the banking system and improving financial intermediation,” the statement read.
It added that discussions at the meeting centred on recent developments in the financial services sector, BII’s investment outlook, and opportunities to deploy long-term capital to support banking sector stability, financial inclusion, and sustainable private sector growth.
“The governor noted that DFIs providing long-term capital and strong governance remain key partners in Nigeria’s reform agenda,” the statement noted.
The statement also quoted Layfield as reaffirming BII’s continued interest in Nigeria’s financial services sector, emphasising the importance of regulatory clarity and sustained engagement to support investment and inclusive growth.
Those present at the meeting included members of BII’s board and executive management, among them Mr Leslie Maarsdorp, Chief Executive Officer; Mr Andrew Alli, Non-Executive Director; Mr Simon Rowlands, Non-Executive Director; Mr Chris Chijiutomi, Managing Director and Head of Africa; and Mr Benson Adenuga, West Africa Regional Director and Head of the Nigeria Office. Senior officials of the British High Commission also attended.
British International Investment is the United Kingdom’s development finance institution and is wholly owned by the UK Government through the Foreign, Commonwealth and Development Office. The institution has total assets of £9.9bn and supports more than 1,600 businesses across emerging markets.
The CBN has frequently taken its drive to attract increased capital inflows to the global stage, as the apex bank intensifies efforts to reposition the economy for stability and long-term growth.
Under the leadership of Cardoso, the CBN is pursuing deliberate strategies aimed at restoring discipline, strengthening confidence, and creating sustainable investment opportunities for both domestic and international investors.
