The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has disclosed that the Apex Bank’s frameworks have, within two months, drastically impacted the financial system in the country as well as the entire continent of Africa.
According to information posted on the Governor’s X handle, Cardoso stated that “June and July marked an important period in our work at the Central Bank of Nigeria: new frameworks for the next phase of Nigeria’s financial system, growing evidence of the impact of reform, and important conversations about the choices that will shape Nigeria and Africa’s economic future.
“Across all of these, the principles guiding us at the CBN remained constant: credibility, discipline and institutional integrity”.
He explained that “on June 1, we launched the Nigeria Payments System Vision 2028, our strategic roadmap for the next phase of transformation in Nigeria’s payments ecosystem.
“Over the past two decades, Nigeria has built one of the most dynamic and innovative payments ecosystems in the world. PSV 2028 builds on that foundation, with a clear objective: a payments ecosystem that is secure, inclusive, resilient and globally competitive, and one that positions Nigeria to take full advantage of the opportunities arising from digital commerce, the African Continental Free Trade Area and increasingly interconnected global markets.
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“As I emphasised at the launch, payment infrastructure has become a strategic national asset in a modern economy.
“Also on June 1, the 4th Edition of the CBN Foreign Exchange Manual took effect, further aligning Nigeria’s foreign exchange administration with international best practice and reinforcing the transparency and…
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