Koko Maxwella 
LAGOS, Nigeria – Foreign capital inflows into Nigeria surged to $20.98 billion in the first ten months of 2025, signalling renewed investor confidence driven by key monetary and structural reforms, Central Bank Governor Olayemi Cardoso announced on Saturday.
Cardoso, who later addressed the 60th Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN), said the figure represents a 70 per cent rise over 2024 and a 428 per cent jump from the $3.9 billion recorded in 2023.
He attributed the rebound to improved transparency and restored price discovery in the foreign exchange market, adding that Nigeria’s exit from the FATF grey list was a “major restoration of confidence” that removed previous restrictions on capital flows. Countries on the grey list, he noted, typically suffer a 7.6 per cent decline in inflows relative to GDP.
Cardoso projected continued inflation moderation in 2026, crediting ongoing reforms aimed at stabilising prices and reducing exposure to oil-price shocks. He added that Nigeria’s reserves were growing organically “not through borrowing but steady inflows and non-oil expansion”.
On the banking sector, he said the Central Bank is redesigning the national credit-risk framework to entrench transparency and resilience. He confirmed that 27 banks had raised capital and 16 had met recapitalisation thresholds ahead of the 31 March 2026 deadline.
Cardoso stressed that the Bank would maintain a flexible exchange-rate regime and no longer fund government deficits, outlining six priorities for 2026, including deeper supervision, payments modernisation, fintech oversight and global partnerships.
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Otamere Gladness 
Oluwatobi Adu 