Cardoso Engages Stakeholders at 18th CIBN Annual Banking and Finance Conference in Abuja
The Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, on Tuesday joined top policymakers, financial sector executives, and technology leaders at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN), held in Abuja.
The conference, themed “The New Economic Playbook: The Intersection of Banking, Policy, and Technology,” brought together local and international stakeholders to deliberate on strategies for strengthening Nigeria’s financial system and repositioning the economy amid global challenges.
In his keynote address, Dr. Cardoso outlined the apex bank’s vision for economic stability and financial sector resilience. He highlighted the importance of diaspora remittances to Nigeria’s foreign-exchange market, disclosing that the CBN has set a target of boosting inflows to $1 billion by 2026.
He explained that recent reforms introduced by the bank have already yielded positive results, with monthly remittances increasing from around $250 million to about $600 million in recent months.
According to him, these improvements are driven by policy measures designed to restore transparency, rebuild confidence, and streamline payment channels.
“Our target is ambitious but achievable. With the right structures and sustained collaboration across the banking industry, diaspora remittances will not only stabilise our foreign-exchange market but also provide long-term funding for national development,” Cardoso stated.
The CBN Governor urged commercial banks and other financial institutions to deepen their involvement by designing products that attract Nigerians abroad to use formal remittance channels.
He also emphasised the need to discourage informal transfers, noting that improved formal inflows would create stronger linkages with investment opportunities in infrastructure, small businesses, and technology-driven sectors.
Cardoso further reiterated the CBN’s commitment to building macroeconomic stability through consistent monetary policies. He pledged that the apex bank would continue to work closely with fiscal authorities, regulators, and private sector players to consolidate gains in the foreign-exchange market, expand financial inclusion, and promote digital banking innovations.
The Abuja conference also featured panel sessions, technical discussions, and a youth-focused “Generation Next” forum, all designed to address pressing issues in Nigeria’s financial ecosystem. Industry leaders examined the growing role of fintech in transforming banking services, the need for regulatory clarity, and the opportunities in leveraging digital platforms to drive inclusive finance.
Analysts at the event welcomed the CBN’s remittance agenda but noted that success would depend on creating attractive incentives for diaspora participation, improving digital onboarding processes, and strengthening international payment corridors.
They stressed that sustained investor confidence and technology-driven efficiency remain critical for achieving the $1 billion target.
The President of CIBN, Dr. Ken Opara, commended participants for their contributions and described the conference as a critical platform for shaping the future of Nigeria’s financial services industry.
He said the 18th edition was significant as it focused on the convergence of policy and technology at a time when Nigeria is pursuing bold economic reforms.
Over the years, the CIBN Annual Banking and Finance Conference has grown into a leading platform for dialogue between regulators, operators, and innovators in Nigeria’s financial landscape.
The 2025 edition, according to organisers, is expected to set the tone for reforms that will drive stability, growth, and competitiveness in the sector.
