The Central Bank of Nigeria Governor, Olayemi Cardoso, has reassured international investors that ongoing reforms are steadily bringing about macroeconomic stability and boosting confidence in the economy.

Cardoso made this disclosure at a forum in New York, organized by the apex bank in collaboration with J.P. Morgan, the Nigerian Exchange Group, and the Africa Private Capital Association.

In a statement on its X account on Sunday, the apex bank stated that the event, held on Thursday ahead of the 2025 spring meetings of the IMF and World Bank Group, brought together global investors, diaspora leaders, and key financial stakeholders.

The gathering focused on assessing Nigeria’s macroeconomic outlook and the progress of its ongoing reforms.

In his keynote address on the theme, ‘The Nigeria Investment Agenda: Pathways for Growth & Global Partnerships’, Cardoso outlined a reform agenda focused on monetary tightening, enhancing transparency in the foreign exchange market, and strengthening financial governance.

He stated that these initiatives are laying the foundation for sustainable macroeconomic stability and ushering in a new era of transparency and confidence.

The governor reaffirmed the CBN’s “unwavering” commitment to restoring credibility through orthodox monetary policies, transparency, and consistency.

“We inherited a crisis of confidence but chose a different path. We’re not turning back,” Cardoso said.

“With a market-determined exchange rate and a transparent, rules-based policy framework, confidence is gradually being restored in Nigeria’s economy.”

Over the past 18 months, the CBN has implemented reforms aimed at controlling persistently high prices and ensuring transparency in the FX market.

The apex bank increased key benchmark interest rates by 875 basis points to 27.5% to curb inflation and injected hundreds of millions of dollars to stabilize the naira.

To promote transparency and restore confidence, the Cardoso-led CBN introduced the FX Code and Electronic Foreign Exchange Matching Systems.

This led to relative stability for the naira, until the disruption caused by President Donald Trump’s reciprocal tariffs in the global market.