BANGKOK — Central Bank Governor Olayemi Cardoso has said the bank will keep its reform course to maintain investor confidence. In an interview with ThisDay at the close of the IMF and World Bank Annual Meetings, he noted that inflation fell to 14.63 per cent in September from about 34.8 per cent at the end of 2024, that reserves are above $55 billion, and that formal remittances are close to $1 billion a month. He said bank recapitalisation raised about N4.75 trillion, mostly from domestic investors. Cardoso said he met IMF First Deputy Managing Director Dan Katz, World Bank President Ajay Banga and People's Bank of China Governor Pan Gongsheng to discuss payments and settlement, and that a visit to Beijing is planned. On banks that have yet to complete recapitalisation, he said they face legal and regulatory hurdles and that their customers have no reason to worry. He said single-digit inflation remains the bank's medium-term objective.
Cardoso: CBN Will Stay the Course on Reforms
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