The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has undertaken a series of high-level engagements in Singapore to strengthen Nigeria’s financial connectivity with Asia through institutional cooperation, financial-market development, and innovation.
Together, the engagements reflect the CBN’s emphasis on translating Nigeria’s financial-sector reforms into stronger international partnerships, deeper markets and practical channels for investment, trade and financial innovation.
In discussions with MAS, the CBN delegation exchanged perspectives on financial-sector development, regulation, market connectivity and innovation, identifying areas of mutual interest for continued engagement and potential collaboration.
The discussions provided an opportunity to draw on both financial systems’ experiences and explore how stronger institutional relationships could support financial-market development and emerging technologies.
In a further step towards practical cooperation, the CBN and GFTN signed MoU establishing a framework for collaboration on financial innovation.
The agreement provides a basis for connecting relevant institutions and innovation ecosystems, exploring areas of mutual interest and identifying practical opportunities for cooperation between Nigeria and Singapore.
At the Nigeria–Asia Financial Connectivity Dialogue, hosted at J.P. Morgan’s Singapore offices and anchored by Mr Dapo Olagunji, Managing Director of J.P. Morgan West Africa, Governor Cardoso outlined Nigeria’s ambition to build deeper, more liquid and internationally connected financial markets, positioning the reforms undertaken in recent years as the foundation for a new phase of market development.
He emphasised that reforms to Nigeria’s foreign-exchange market were aimed at removing distortions, restoring transparency and strengthening confidence in the rules governing market participation.
“The real test of reform is not whether you can attract capital once; it is whether you create the confidence for capital to stay, return and grow,” he said.
The Governor highlighted the importance of credible monetary policy, stronger governance, improved market functioning and predictable rules in creating the conditions for sustained domestic and international investment.
He noted that stabilisation was not an end in itself, but a foundation for broader participation by long-term institutional capital, stronger market infrastructure and more effective connections with international financial markets.
The Dialogue brought together investors, financial institutions, businesses and Nigerians living and working across Asia.
GIK/APA