Olayemi Cardoso says Nigeria can withstand external shocks; banking stress tests show financial robustness
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Friday said Nigeria’s economy has emerged stronger and is better equipped to withstand external shocks than ever before.
Speaking at the 60th annual dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso highlighted Nigeria’s resilience alongside Ethiopia as leaders of Africa’s economic recovery.
“Nigeria’s economy today is stronger and more resilient. We are better positioned to withstand external shocks than at any time in our history,” he said.
Cardoso also emphasized that the banking industry is expected to maintain its stability into 2026. He cited recent stress tests conducted across the subsector, which confirmed that Nigerian banks remain financially robust.
“The progress recorded in the banking sector is a testament to the reforms implemented by the CBN. We remain committed to protecting the integrity of the domestic financial market,” the governor added.
The remarks underline the apex bank’s confidence in the continued resilience of Nigeria’s financial system and the broader economy, even amid global uncertainties.
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