17 March 2026 The Peninsula London

From Stabilisation
to Capital Mobilisation

For years, the case for Nigeria was made in potential. On 17 March 2026, it was made in evidence.

At The Africa Capital Forum's inaugural convening at The Peninsula London, the Central Bank of Nigeria brought together the institutions that shape global capital flows and the investors ready to deploy into Africa's largest economy. The message from the room was clear: the stabilisation is real, the reforms are structural, and the next phase has begun.

Foreign reserves above $50 billion. Eleven consecutive months of disinflation. A recapitalised banking sector. A positive outlook from S&P Global. Nigeria welcomed as the EBRD's 77th shareholder. And a room full of people whose job it is to be sceptical, who came anyway.

Nigeria is not asking to be discovered. It is building a $1 trillion economy, and the capital conversation has started.

The Africa Capital Forum exists to make sure it continues.

Key Takeaways

What the Room Agreed On

The stabilisation is structural, not cyclical

Eleven consecutive months of disinflation, reserves above $50 billion, and exchange rate unification have created a credibility foundation that previous reform cycles lacked. For the first time, fiscal and monetary policy are genuinely aligned.

Global institutions are re-engaging in earnest

Nigeria's accession as the EBRD's 77th shareholder, a positive outlook from S&P Global, and active presence from IFC, BII, and UKEF signal a material shift in how multilateral capital is positioning on Nigeria.

A recapitalised banking sector changes the calculus

Stronger balance sheets mean Nigerian banks can now participate in larger transactions, crowd in private investment, and extend their reach across Africa from a position of genuine institutional strength.

Fintech is the infrastructure for the next capital cycle

Nigeria's decade-long lead in real-time payments is now a platform. The conversation has moved from moving money to forming capital — connecting diaspora savings, domestic investment, and global markets through digital infrastructure.

In Their Words

Voices from the Forum

“

The financial system we had is dead and buried. What we have now is a new system that has brought liquidity and transparency.

Olayemi Cardoso

Governor, Central Bank of Nigeria

“

We put Nigeria on positive and we are positive.

Ravi Bhatia

Director and Lead Analyst, Africa, S&P Global

“

There is some form of reform fatigue but the difference is that this time there is reform credibility. For the first time there is a congruence of the fiscal and monetary sides.

Roosevelt Ogbonna

MD/CEO, Access Bank

“

In the face of global tensions, investors are sticking with us even as the world talks about fleeing to safety.

Sanyade Okoli

Special Adviser to the President of Nigeria

“

We consider ourselves long-term investors and are glad to welcome Nigeria as our 77th shareholder in EBRD.

Melis Ekmen Tabojer

Managing Director, Policy Strategy and Delivery, EBRD

“

Confidence is built through full fiscal transparency. The opacity is responsible for the so-called African premium. But the reforms in Nigeria are providing transparency and building confidence.

Steve Gray OBE

Head of West and Central Africa, UK Export Finance

“

This is perhaps the first time in many years that we've had this level of consistent stability. And it is likely to stay on course.

Olayemi Cardoso

Governor, Central Bank of Nigeria

“

The reforms have provided a lot more confidence in the economy. This allows us to fund a lot of projects locally: 60% of the raised capital was going to be used locally, and 40% for foreign expansion.

Akin Ogunranti

Executive Director, Zenith Bank

“

With currency reforms, Nigerian banks will be able to take home bigger transactions. We can do more, and crowd in new investments.

Segun Alebiosu

MD/CEO, First Bank

“

Nigeria is emerging as a fintech ecosystem in sub-Saharan Africa.

Luis Oganes

Head of Global Market Research, J.P. Morgan

“

Transforming the data architecture of the central bank is one of the strong elements of the reform agenda under Governor Cardoso.