By Oluwakemi Kindness
The Central Bank of Nigeria (CBN) is seeking stronger financial ties with Asian markets to attract sustained investment and deepen Nigeria’s access to international capital.
CBN Governor Olayemi Cardoso stated this at the Nigeria–Asia Financial Connectivity Dialogue in Singapore, where he said the country’s financial reforms were laying the foundation for deeper and more liquid markets.
“The real test of reform is not whether you can attract capital once; it is whether you create the confidence for capital to stay, return and grow,” he said.
According to a statement on Thursday by thw bank, Cardoso says foreign-exchange reforms were designed to remove distortions, improve transparency and restore confidence in market operations.
He added that sustained investment would require credible monetary policy, stronger governance, predictable market rules and better financial infrastructure.
The Governor also identified opportunities to strengthen links between Nigerian and Asian banks, improve payment and settlement channels, and expand financial connections for Nigerians living and working across Asia.
The dialogue was convened by the CBN in collaboration with J.P. Morgan, Nigerian Exchange Group (NGX) and FMDQ Group.
In a related development, the CBN held discussions with the Monetary Authority of Singapore on financial regulation, market development and innovation.
The bank also signed a Memorandum of Understanding with the Global Finance & Technology Network (GFTN) to establish a framework for cooperation on financial innovation between Nigeria and Singapore.
Cardoso said financial technology and artificial intelligence could improve financial services, strengthen risk management, expand inclusion and enhance regulatory capabilities.
The Singapore engagements form part of the CBN’s broader programme of financial-sector engagement across Asia, including further meetings in Beijing.
