From Stabilisation
to Capital Mobilisation

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

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.

We put Nigeria on positive and we are positive.

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.

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.

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.

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

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.

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

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.

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.

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

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

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