CBN Headquarters Abuja
Central Bank of Nigeria (CBN) has set an ambitious target of achieving a $1 billion diaspora reserve by 2026, according to CBN Governor Dr. Olayemi Cardoso.
Speaking at the 18th Annual Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday, Cardoso revealed that the current diaspora reserve stands at $600 million.
He emphasized that the CBN has established the necessary framework to meet this goal, stating, “We’ve put everything in place to make this target achievable by 2026. Now, it’s up to the banks to drive this forward.”
Cardoso praised the efforts of several banks, noting, “I commend institutions like Zenith, Access, Fidelity, and many others for their role in pushing this initiative. Their work is critical and speaks volumes about how our diaspora perceives us.”
The two-day conference, themed: “ _The New Economic Playbook: The Intersection of Banking, Policy and Technology,”_ underscores the collaborative efforts needed to advance Nigeria’s financial landscape, according to the News Agency of Nigeria (NAN).
