The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the apex bank is making steady progress in stabilising the foreign exchange market and tackling inflation.
This was announced by the apex bank in a statement on Tuesday, March 25, 2025 while receiving a delegation of scholars from the Harvard Kennedy School at the CBN Headquarters in Abuja.
The visit was part of the scholars’ Africa Trek Initiative, which also included stops in Ghana.
The Africa Trek is designed to facilitate direct interaction between emerging global leaders and key African policymakers.
The delegation comprised 50 students from 19 countries, including representatives from the Harvard Business School, Massachusetts Institute of Technology and Stanford University.
The visit marked the first time a Harvard Africa Trek delegation would visit the Central Bank of Nigeria.
Cardoso, who is an HKS alumnus and the first African elected to the global HKS Alumni Board of Directors, reiterated the Bank’s commitment to driving policy-oriented solutions and strengthening trust in Nigeria’s financial system.
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“As we reset the Bank, we are committed to being a hub for thought leadership. The exposure you gain from institutions like Harvard is invaluable, and we see this as an opportunity to build long-term alliances,” Cardoso said.
While addressing Nigeria’s macroeconomic outlook, he acknowledged existing challenges but pointed to key indicators suggesting improvement.
He noted that the FX market is beginning to stabilise and that inflationary pressures are gradually moderating.
“Addressing Nigeria’s economic landscape, Mr Cardoso acknowledged recent challenges but highlighted progress in stabilizing the foreign exchange market and curbing inflation.”
Cardoso also highlighted the growing interest from international institutions as a positive signal. He referenced recent visits from senior executives at JP Morgan, Citi Bank, and the International Monetary Fund (IMF) as evidence of renewed investor confidence.
“These are individuals who base their decisions on data and trends, not sentiment. Their interest reaffirms that we are on the right path,” he added.
President of the Harvard Kennedy School Alumni Association of Nigeria, Adaora Ndukwe, and the HKS Nigeria Trek Delegation Lead, Sheffy Kolade, commended the CBN for hosting the students and for its continued engagement with future policymakers.
