The governor of the Central Bank of Nigeria, Yemi Cardoso, has expressed optimism about the return of Foreign Portfolio Investors (FPI) to the country.
In an interview on Monday, Cardoso highlighted the interest of Foreign Portfolio Investors in Nigeria, attributing it to the impactful reforms implemented by the current administration.
He emphasized that foreign investors have carefully analyzed the reforms and have seen positive signs, with rating agencies endorsing the country’s economic progress.
Cardoso also pointed out that recent moves, such as directing Nigerian National Petroleum Corporation and other agencies to shift their funding to the CBN, have sent strong signals and boosted confidence in the investment climate.
Cardoso acknowledged the recent decline in foreign investments, citing the third quarter of 2023’s figure of six hundred and fifty-four point seven million dollars as the lowest since 2013. However, he stressed that ongoing positive reforms are instilling confidence among investors, leading to a reduction in volatility.
The post Central Bank Governor Optimistic About Economic Reforms first appeared on Royal Times of Nigeria..