Nigeria’s Economic Surge: Central Bank Chief Courts Investors as FX Turnover Soars to $8.6 Billion

In a striking show of confidence, Central Bank of Nigeria Governor Olayemi Cardoso is rolling out the red carpet for global investors, spotlighting a booming foreign exchange market and bold projections for the nation’s economic future. With daily FX turnover hitting an impressive $8.6 billion, Cardoso painted a vibrant picture of Nigeria’s financial landscape, predicting a current account surplus that could top $20 billion in the coming years.

Speaking at a high-profile economic forum, Cardoso attributed the FX market’s meteoric rise to strategic reforms and renewed investor trust. “Nigeria is open for business, and the numbers prove it,” he declared, emphasizing that recent policy tweaks have stabilized the naira and unleashed a flood of market activity. The central bank’s efforts to streamline currency operations and boost transparency have clearly struck a chord with global players.

Cardoso didn’t stop at celebrating the present. He projected a robust economic outlook, with Nigeria’s current account surplus poised to shatter records. “We’re not just holding steady—we’re building a foundation for explosive growth,” he said, citing surging remittances, export gains, and smarter fiscal management as key drivers. His optimism resonated with attendees, who saw Nigeria’s trajectory as a golden opportunity for investment in sectors like energy, agriculture, and tech.

Industry insiders are buzzing about the implications. A stronger FX market and hefty surplus could supercharge Nigeria’s global trade clout, create jobs, and fuel infrastructure projects. Cardoso’s call to action was clear: now’s the time for investors to jump in and ride the wave. With the central bank doubling down on pro-market policies, Nigeria is positioning itself as a powerhouse ready to dominate the African economic stage and beyond.