Governor of the Central Bank of Nigeria, Olayemi Cardoso, has emphasized the pivotal role institutional resilience plays in Africa’s long-term growth and development. His remarks came during the official opening of the 2025 Afreximbank Annual Meetings, held in Abuja.
Addressing dignitaries, Cardoso praised Afreximbank for its transformation from a trade finance institution to a pan-African economic enabler, noting its strategic interventions in the continent’s most challenging periods.
He highlighted Africa’s capacity to weather multiple global disruptions—including the COVID-19 pandemic, energy price volatility, and shifting geopolitical landscapes—attributing this to the strategic foresight of institutions like Afreximbank.
The governor referenced Nigeria’s close relationship with the bank, revealing that the country has secured over $52 billion in project and trade financing through Afreximbank since inception. He also pointed to the Central Bank’s efforts to boost diaspora inflows through policy reforms like the introduction of the Non-Resident Nigerian Ordinary and Investment Accounts.
He urged African nations to align more closely with the African Continental Free Trade Area (AfCFTA), advocating for faster implementation, deeper economic integration, and active engagement of diaspora communities in the continent’s transformation agenda.
“Afreximbank has inspired us to think boldly; now we must act boldly,” Cardoso stated.
The event also featured the unveiling of Afreximbank’s flagship 2025 African Trade Report and Economic Outlook, marking another milestone in the bank’s 32-year history.