CBN Gov urges development finance institutions to back reforms

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has emphasised that Nigeria’s financial reforms depend heavily on sustained access to long-term capital from development finance institutions (DFIs).

Cardoso made the remarks in Abuja on Wednesday, while hosting a delegation from British International Investment (BII) led by its Chair, Diana Layfield, alongside the British High Commissioner to Nigeria, Richard Montgomery.

According to a statement from the CBN, the meeting was part of ongoing efforts to deepen reforms in the financial sector and attract patient, long-term investment into the economy.

“The Governor reaffirmed the CBN’s commitment to macroeconomic stability, credible monetary policy, and a transparent, data-driven regulatory framework aimed at strengthening the resilience of the banking system and improving financial intermediation,” the statement read.

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Discussions focused on recent developments in Nigeria’s financial services sector, BII’s investment outlook, and opportunities to deploy long-term capital to support banking stability, financial inclusion, and sustainable private sector growth. “The Governor noted that DFIs providing long-term capital and strong governance remain key partners in Nigeria’s reform agenda,” the statement added.

Layfield reaffirmed BII’s interest in Nigeria’s financial services sector, stressing the importance of regulatory clarity and sustained engagement. “BII remains committed to supporting investment and inclusive growth in Nigeria’s financial services sector,” she said.

The meeting was attended by BII board members and executives, including Leslie Maarsdorp (CEO), Andrew Alli (Non-Executive Director), Simon Rowlands (Non-Executive Director), Chris Chijiutomi (Managing Director and Head of Africa), and Benson Adenuga (West Africa Regional Director and Head of Nigeria Office). Senior officials from the British High Commission were also present.

BII, the UK’s development finance institution, is wholly owned by the British government and manages assets worth £9.9bn, supporting over 1,600 businesses across emerging markets.

Under Cardoso’s leadership, the CBN has intensified efforts to attract capital inflows, restore discipline, strengthen investor confidence, and create sustainable opportunities for both local and international investors.

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