Nigeria’s Central Bank Governor, Mr. Olayemi Cardoso, has given a snapshot into the activities of the CBN for April and May 2026.
In a post on his official X handle, @olayemicardoso1, he said April and May were defined by consolidating reforms, strengthening institutions, and translating policy gains into durable economic outcomes.
Following the successful completion of the banking-sector recapitalisation programme in March, he said the CBN’s focus shifted to sustaining momentum and reinforcing the foundations of long-term macroeconomic stability.
According to him, the recapitalisation programme remained one of the most significant achievements of this reform period.
Explaining further, he said that through this exercise, Nigerian banks raised over ₦4.65 trillion, strengthening capital buffers, enhancing resilience, and expanding the sector’s capacity to support economic growth and financial intermediation. The strong participation of both domestic and international investors reflected growing confidence in Nigeria’s financial system and reform trajectory.
Against this backdrop, Nigeria participated in the IMF and World Bank Spring Meetings in Washington at a time of heightened global uncertainty, marked by tighter financial conditions, persistent geopolitical pressures, and subdued growth across many economies. The Meetings provided an opportunity to present Nigeria’s reform progress, engage key partners, and reinforce confidence in the country’s economic direction, the Governor further explained.
He noted that one of the most important engagements was with World Bank President Ajay Banga, where discussions focused on institutional reform, long-term development priorities, and the partnerships required to support sustainable growth. As Chair of the G-24, Nigeria also helped advance discussions on mobilising development finance, reforming the global financial architecture, and promoting job-rich growth across developing economies, he stated.
