Nigeria’s CBN Governor Calls for Resilient Institutions Amid Global Uncertainty

By Oluwakemi Kindness

Institutions within the African continent has been tasked to embrace resilience as a core strategy to withstand global economic shocks and drive sustainable development.

This is according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, who said Africa must build institutions capable of navigating economic fragmentation, trade protectionism, and shifting geopolitical realities.

“Resilience is not accidental. It is engineered through deliberate choices, strategic foresight, and strong foundations,” Cardoso said.

In the remarks, the CBN governor said institutions that endure are those that prepare for disruption before it arrives.

“Resilient institutions are always thinking ahead. They build buffers, diversify risk, and remain disciplined even when others are distracted by short-term gains,” he added.

Cardoso praised Afreximbank’s role over the past three decades, describing it as “a bulwark against volatility, a catalyst for intra-African trade, and a champion of integration into global value chains”.

Reflecting on recent domestic efforts, Cardoso said the CBN has made rebuilding public and market trust a key priority in its reform agenda.

“We recognise that institutional credibility is the anchor of effective monetary and financial policy,” he said.

“Our focus has been on restoring clarity, reinforcing consistency, and deepening confidence—not as an end in itself, but as a foundation for the future.”

The Governor said reforms in the foreign exchange market, including the unification of exchange rates and a shift towards market-driven policies, are designed to enhance transparency and boost investor confidence.