Foreign investors moving in according Cardoso

Central Bank of Nigeria Governor, Olayemi Cardoso, yesterday disclosed that foreign investors are already moving funds into the country to invest in Nigerian banks under the ongoing recapitalisation exercise.
Cardoso who stated this at the Afrinvest 2024 Banking Sector Report Launch in Abuja, yesterday, said that his team was vigilant and would not allow illicit funds into the Nigerian banking industry or allow bad people to take it over.
The Governor who was represented by the Acting Director of Financial Policy and Regulations, John Onoja, said the recapitalisation exercise would bolster federal government’s efforts towards achieving the $1 trillion economy goal by 2030.
According to Onoja, the exercise would positively impact the Gross Domestic Product of the nation, stressing, It is going to contribute to the GDP growth and improve credit ratings for some of these banks, because of the forex credits they take, the credit ratings are very important.