Abuja: Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), emphasized the need for enhanced strategic cohesion among African nations to secure the continent’s future. He made this assertion during the African Export-Import Bank (Afreximbank) 32nd Annual Meetings (AAM2025) held in Abuja.
According to News Agency of Nigeria, Cardoso advocated for a swift implementation of the African Continental Free Trade Area (AfCFTA) treaty, strengthening regional integration, and fostering robust engagement with the African diaspora. He praised the African Executive Panel for their efforts in redefining the diaspora’s role and forming partnerships with the Caribbean.
Cardoso highlighted Afreximbank’s pivotal role in promoting African trade and economic development. He noted the bank’s emergence as a trusted partner and catalyst for change, contributing significantly to strategy formulation and execution, as well as elevating African agencies globally. Nigeria received approximately $52 billion in trade and project financing over the past decade, reflecting the country’s economic scale and deep engagement with Afreximbank.
The Governor pointed out Afreximbank’s impressive financial growth, with its capital base expanding from $750 million to over $40 billion by 2024. He commended the bank’s crisis preparedness and strategic foresight, which have enabled it to navigate challenges in a rapidly evolving global environment.
Cardoso acknowledged the challenges facing the African continent, such as rising trade protectionism and shifting geopolitical dynamics, which threaten both Africa’s developmental prospects and the coherence of the international ecosystem. He called for greater ambition and clarity of purpose, emphasizing the importance of green growth, digital transformation, and a dynamic private sector.
Furthermore, Cardoso announced the introduction of two financial products aimed at Nigerians abroad: the Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account. These products are designed to provide a secure platform for managing funds and investing in the Nigerian financial markets.
The News Agency of Nigeria reports that the meetings, themed ‘Building the Future on Decades of Resilience,’ focused on accelerating trade opportunities, driving investment, and fostering innovation.
