Cardoso seeks stronger economic ties with Middle East

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has canvassed stronger economic ties with the Middle East and the Nigerian diaspora community in the region.

Cardoso said there were lessons to be learned from Saudi Arabia in terms of infrastructural development and tourism.

According to him, Saudi Arabia’s dedication to diversifying its economy through innovative environmental projects, large-scale transformation, and tourism investment is essential for development.

Nigeria’s foreign reserves hit $40bn, highest in three years

The CBN Governor spoke during a meeting with Talal Al-Humond, the Assistant Governor for Monetary Affairs, Saudi Arabia Central Bank – SAMA, on the sideline of the just-concluded inaugural Conference on Emerging Markets Economies organised by the Ministry of Finance, Saudi Arabia, and the International Monetary Fund (IMF) Regional Office in Riyadh,

Cardoso also reaffirmed his dedication to collaborating with the Nigerian Diaspora community in the Middle East to improve remittance flows and strengthen Nigeria’s financial sector.

He stated that the CBN will continue enhancing macroeconomic fundamentals to establish an enabling environment that will facilitate the growth of the private sector and the generation of high-quality jobs for Nigerians.

Responding, Mr. Talal Al-Humond assured Cardoso that the Saudi Central Bank will work with the CBN to ensure the attainment of mutually beneficial objectives.

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