Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has identified transparency, independent thinking and clear communication as essential to building investor confidence in the country’s monetary policy.
Cardoso spoke during a panel session titled “How Central Banks Decide” at the 2026 International Monetary Fund (IMF) and World Bank Group Annual Meetings in Bangkok, Thailand.
He said independent-minded members of the CBN’s Monetary Policy Committee (MPC) help challenge assumptions, bring diverse perspectives and prevent group think during policy deliberations.
Cardoso noted that Nigeria’s past currency instability and declining investor confidence highlighted the need for credible policies and transparent decision-making.
He added that clearly explaining policy decisions helps markets understand the reasoning behind them, even when the decisions are unexpected.
The CBN governor also cited improved coordination between fiscal and monetary authorities, stronger external reserves and declining inflation as factors supporting confidence in recent policy decisions.
The session was moderated by IMF First Deputy Managing Director Dan Katz and featured Swiss National Bank Chairman Martin Schlegel and Banque de France Governor Emmanuel Moulin.
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