Cardoso: CBN Committed to Economic Stability, Stronger Banks, More Investment Inflows

*Vows to jealously guard financial system stability 

*EU Chambers hail reforms, Naira stability 

Nume Ekeghe

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reaffirmed the apex bank’s commitment to driving economic stability and building stronger, more resilient banks. He also assured that renewed confidence in monetary policy will attract greater investment inflows into Nigeria’s economy.

Speaking at a fireside chat moderated by Andreas Voss, Chief Country Representative, Deutsche Bank Nigeria, during the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos, at the weekend, Cardoso pointed out that the ongoing recapitalisation exercise for commercial banks was “making good progress” and would produce stronger institutions capable of withstanding shocks and financing growth.

Cardoso noted that while headline inflation remains elevated, it was trending downward as a result of collective efforts thus far, with the expectation that the benefits of the bank’s tighten monetary policy stance would continue to take hold.

“We will guard very jealously the stability that has been restored in the financial system,” he said.
“Our priority is to sustain that stability, while at the same time tackling inflation and ensuring the financial system is resilient enough to support corporate lending and investment.”

When asked about high lending rates in Nigeria and their impact on investment, the CBN Governor acknowledged the concern but tied it back to his earlier point on inflation and stability.
He said there was a significant opportunity for interest rates to come down over time as inflation continues on its downward path and as markets become more efficient in allocating capital.
“That is the environment in which stronger corporate lending and higher levels of investment will naturally follow,” he added.

Cardoso noted the CBN’s recapitalisation directive, which requires banks to increase their minimum capital, was designed precisely to build resilience and ensure the financial system is strong enough to support broader economic activities.

He also highlighted efforts to strengthen the fintech ecosystem and expand financial inclusion, noting that technology-driven solutions would be central to deepening access and tackling poverty.

Importantly, he pointed to deeper collaboration with the fiscal side, including the Ministry of Finance, Ministry of Trade and Industry, and the Budget Office, as a positive development that would help the country sustain reforms and deliver long-term stability.

On Nigeria’s place in the global economy, he said: “What current geopolitical shifts make clear is the urgency of getting our own house in order. Nigeria is not only a large and attractive market in its own right, but it also sits at the gateway to West Africa and the wider continent. This makes stability at home all the more critical.”

Members of the EU Chambers praised the CBN’s reforms and the stabilisation of the naira as key drivers of renewed investor confidence.

Eurocham President Yann Gilbert, in his opening remarks, described the chamber as a bridge connecting European businesses with Nigerian policymakers.

“Our members are deeply committed to this country,” he said. “We want to invest, create jobs, and build lasting partnerships.

“This forum is about engagement, dialogue, and solutions that strengthen confidence and unlock opportunities between Nigeria and Europe.”

The post Cardoso: CBN Committed to Economic Stability, Stronger Banks, More Investment Inflows appeared first on THISDAYLIVE.

​  

  • Related Posts

    BREAKING: Nigerian Nursing Council Ends Policy Eliminating Students After Three Failed Exam Attempts

    A circular issued on September 1, 2025, with Ref: N&MCN/SG/RO/CIR/24/VOL.5/118 and signed by the Registrar/CEO, Ndagi Alhassan, stated that the abolition takes effective from September 2025, adding that henceforth candidates…

    Abeokuta/Sango-Ota/Lagos Road Rehabilitation: A Symbol of Ogun Govt’s Commitment

    Abeokuta/Sango-Ota/Lagos Road Rehabilitation: A Symbol of Ogun Govt’s Commitment

    Femi Ogbonnikan

    Commendations have been passed on the Ogun State Government for the speedy progress of the ongoing rehabilitation work on the Abeokuta/Sango-Ota/Lagos Expressway.
    Commuters and motorists, who could not hide their joy seeing the road wear a new look, expressed satisfaction with the pace and quality of work done so far on the ever-busy road. And, of course, their excitement is not misplaced, especially given the road’s long history of neglect. The joy is a direct result of the improved travel conditions on this vital corridor. One of the key reasons for the outpouring of praises is that the expressway is a federal road.
    For years, the road has been in a deplorable state, causing untold hardship to motorists, commuters, and residents. Previous attempts to get the federal government to fix the road were largely unsuccessful. While the neglect lasted, the road’s condition led to frequent accidents, traffic gridlocks, and a huge economic loss for businesses and individuals who ply the route.
    After a prolonged discussion, Ogun State Governor, Prince Dapo Abiodun, in collaboration with his Lagos State counterpart, Mr Babajide Sanwo-Olu, were able to secure the approval of the federal government to take over the project. This is seen as a major breakthrough and a demonstration of political will, following the flag off of the reconstruction project by Governor Abiodun in August 2024, with an 18-month completion timeline. The state government had adopted a phased approach, with different construction gangs working simultaneously on various sections of the road. Due to this initiative, some critical sections like Brewery, Obada-Oko (both in Abeokuta), and Itori Junction up to Lafarge Cement Factory, Ewekoro have already been repaired and reopened to traffic, providing immediate relief. This has resulted in a significant reduction in travel time and a much smoother flow of traffic. The new look of these portions of the road is what has led to the encomium being poured on the governor.
    For concerned commuters and motorists, the successful intervention on this road is a major political win for the Governor. It demonstrates his commitment to providing infrastructure and addresses a key concern of the people, solidifying his public image as a leader who delivers on his promises. It is a strategic move that could play a significant role in future political considerations, especially as the 2027 general elections cycle draw nearer. The goodwill from this project will be a major asset for him and his political party.
    In effect, the rehabilitation of the Abeokuta/Sango-Ota/Lagos Expressway is more than just a road project; it is a symbol of a government’s commitment to its people, a testament to political collaboration, and a source of hope for thousands of commuters who have endured years of suffering on the road.
    The Olu of Itori, Oba AbdulFatai Akorede Akamo, while fielding questions from newsmen, noted that the road had been in deplorable condition for a long time due to abandonment by both the federal and previous state governments.
    He said: “This road has been abandoned for so many years, and I thank God that Governor Dapo Abiodun took the bull by the horns and committed to doing the Lagos-Ota-Abeokuta road.
    “Though it is a federal road, Governor Abiodun said he would complete the road, and he has started it. Our governor is a man of his word, and his word is his bond.
    “I have never witnessed such a governor in the state since my enthronement who says something and achieves it. We will tell our stories by ourselves; the giant stride of the governor on this road is still unbelievable.
    “Governor Dapo Abiodun is a man of the people; he feels the people’s pain, and the governor is doing fine because he has someone at his back. President Bola Ahmed Tinubu has been our governor’s pillar of support.
    “What he met on the ground when he became the governor was so sad, but today, we thank God that God has revealed Himself.”
    A transporter, Opeyemi Akindele, who plies the Abeokuta-Papalanto route, also commended the contractor handling the project for a job well done, adding that with the construction, the rate of accidents has reduced, while traffic bottlenecks are now a thing of the past.
    “What I can say about this road is that we drove one-way because the road was in terrible condition before now. Some portions of this road used to be like swimming pools, but the current government of Governor Dapo Abiodun has done very well by fixing this road.
    “There have been some governors before Governor Abiodun who did not do anything on this road, but Governor Abiodun is working on it now. We can’t say he is not doing anything; he is doing very well with this road.
    “The movement of vehicles along this axis is now very smooth compared to before. In the past, we used to have constant breakdowns of our vehicles because of the state of the road,” he said.
    He, however, called for the provision of a trailer park between Papalanto Junction and Lafarge Cement Plant, in Ewekoro Local Government Area, so that articulated vehicles would not block the road.
    Also speaking on the current state of the road, a resident of Papalanto, Ololade Anjolaoluwa, said: “The road was very bad before now; the traffic around here was huge in the past, but now, we thank God that the administration of Governor Dapo Abiodun has come to our aid.”
    Another resident, Akande Michael, appreciated the current state of the road, calling on the contractor to redouble their efforts and deliver the job on time. “There are a lot of changes on this road, even though work is still ongoing.
    “I can testify that accidents have ceased to happen on this road because the Ogun State Government commenced reconstruction. We are very happy and appreciate the Governor Dapo Abiodun-led administration.
    “From Itori to Papalanto, they are doing a fantastic job there, and I commend them,” he added.
    The Abeokuta-Sango-Ota-Lagos Expressway is of immense socio-economic significance to the residents of both Lagos and Ogun States. It is a critical artery that underpins a vast network of commercial, industrial, and social activities.
    As a major economic corridor, the road is a vital link to one of the most concentrated industrial hubs in Nigeria. The areas of Sango-Ota, Agbara, and Papalanto are home to hundreds of manufacturing industries, including major companies like Lafarge Cement, Nestlé, Guiness, and Dango Cement. The road is the primary route for the transportation of raw materials to these factories and for the distribution of finished goods to Lagos, Nigeria’s commercial capital, and other parts of the country.
    The communities along the expressway are densely populated and serve as a major market for a variety of goods and services. The road facilitates the movement of traders and commuters, which in turn boosts economic activities in these areas.
    The road is a catalyst for urbanization and economic growth in Ogun State. Due to its proximity to Lagos, the road has encouraged the development of numerous satellite towns in Ogun State, such as Sango-Ota, Ifo, and Mowe. These towns have absorbed the overflow of Lagos’s population, as many people choose to live there and commute to Lagos for work.
    The good condition of the road also has a direct impact on the value of properties in the surrounding areas. Improved accessibility and reduced travel time make these communities more attractive to residents and businesses, leading to an increase in property values and rental rates.
    Ogun State, often referred to as Nigeria’s industrial capital, is a major investment destination. The rehabilitation of this road is seen as a key strategy by the state government to create an enabling environment for industrial growth and to attract more investors.
    The improved condition of the road significantly reduces travel time for the thousands of people who commute between Lagos and Ogun State for work, education, and social activities. This saves them time and money on fuel and vehicle maintenance.
    The years of gridlock, dust, and accidents on the old road has had a negative impact on the mental and physical health of residents and commuters. The new, smooth road has reduced stress, noise pollution, and the risk of accidents, contributing to a better quality of life.
    The road facilitates easier access to essential social services, including hospitals, schools, and markets, for residents of the communities along the corridor.
    The road’s rehabilitation is a testament to the effective collaboration between the governments of Lagos and Ogun States. It highlights the importance of working across state boundaries to address mutual challenges that have a significant impact on the lives of their citizen.
    In essence, the Abeokuta/Sango-Ota/Lagos Expressway is far more than just a link between two cities. It is a lifeline for a vibrant industrial and residential corridor. Its rehabilitation is a game-changer that is expected to unlock the economic potential of Ogun State and improve the lives of millions of Nigerians who live, work, and do business in the region.

    *Ogbonnikan is a Senior Special Assistant (SSA) on Media to Ogun State Governor

    The post Abeokuta/Sango-Ota/Lagos Road Rehabilitation: A Symbol of Ogun Govt’s Commitment appeared first on THISDAYLIVE.

    ​  

    Femi Ogbonnikan Commendations have been passed on the Ogun State Government for the speedy progress of the ongoing rehabilitation work on the Abeokuta/Sango-Ota/Lagos Expressway.Commuters and motorists, who could not hide
    The post Abeokuta/Sango-Ota/Lagos Road Rehabilitation: A Symbol of Ogun Govt’s Commitment appeared first on THISDAYLIVE.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Business & Economy

    REDMI 15C: The must-have Xiaomi Smartphone this September 

    Military Pensions Board alerts Nigerians to fake WhatsApp group impersonating official channels 

    Economist warns CBN: Relaxing MPR now premature as inflation data remains outliers

    Uncertainty as NUPENG, Dangote Refinery battle Over Union Rights

    Uncertainty as NUPENG, Dangote Refinery battle Over Union Rights

    Building Sustainable Futures: Cardtonic upskills, reaches communities (2022–2025) 

    FSDH reinforces strategic priorities, exits PAL Pensions 

    Thinking Long Term? Why investors are banking on land 

    Union Bank to seek core investor following merger with TitanTrust 

    Nigeria faces economic strain as OPEC+ ramps up oil production 

    VNL Capital Asset Management Ltd secures SEC approval to operate as a Fund/Portfolio Manager in the Nigerian Capital Market 

    Cowrywise Financials Ltd partners with Meristem to lower the barrier to entry into the Nigerian Capital Market

    Nigerian businesses struggle to service loans as interest rates hit 36% 

    CBN Governor Cardoso projects decline in interest rates as inflation eases 

    Nigeria’s FX Market Records $2.80bn Inflow Amid Strong Domestic Support

    At 29.31%, Maximum Lending Rate Drops One-Year Low Amid Stable Monetary Fee

    Experts Calls for Bankable Projects to Unlock Africa’s $70bn Infrastructure Gap

    To Benefit Shareholders, UBA Extends Rights Issue to Sept 19

    NCAA Steps Up Enforcement of Disability Laws, Introduces Oversight Committee

    ProvidusBank Named Among Best Workplaces in Banking 2025

    Sec Supports Insurers With  Help-desk for Easy Capital Raising 

    Bitget to Transfer 440m BGB to Morph Foundation

    Boosting Indigenous Engineering Excellence for Nigeria’s Industrialisation

    SMES AND DATA QUALITY CONCERNS

    NIGERIA’S PURSUIT OF INCREASED CRUDE OIL PRODUCTION

    A TALE OF ORDERS

    Customs board approves $300 duty-free limit

    Customs board approves $300 duty-free limit

    Nigeria Customs to allow duty-free imports under $300 starting Sept. 8  

    Sanwo-Olu to lead Lagos State delegation to FNITCC Atlanta

    Femi Otedola’s memoir now Amazon no.1 best seller in business category 

    UBA extends N157 billion rights issue application beyond September 5, announces new deadline 

    PETROAN to shut down petrol stations from Tuesday, September 9

    The top 7 largest auto spare parts market in Lagos

    Weekly Market Wrap: Customs Street records four-week losing streak as premium stocks sink ASI 0.94% 

    NDLEA dismantles international drug cartel, arrests 3 leaders, seizes N5.3billion worth of cocaine 

    United Capital Plc: Is it Right Now to Buy the Dip? 

    Dangote, NUPENG Face-off: NLC seeks Tinubu’s intervention

    Dangote, NUPENG Face-off: NLC seeks Tinubu’s intervention