Addressing a gathering of leaders, investors, and policymakers on Wednesday, Cardoso highlighted the pressing need for Africa to close ranks and intensify collaboration. He advocated for the accelerated implementation of the African Continental Free Trade Area (AfCFTA), enhanced regional integration, and stronger partnerships with the African diaspora, particularly across the Caribbean and other global regions.
“These elements—unified trade, regional cooperation, and diaspora inclusion—are not just strategic imperatives,” Cardoso noted. “They are the pillars upon which the future of African prosperity will rest.”
The CBN governor praised Afreximbank’s role in facilitating this vision, describing the institution as more than a financier. He characterised the bank as a catalyst for transformation, a platform that not only convenes ambition but also enables execution and global recognition of African potential.
According to Cardoso, Nigeria has received nearly $52 billion in trade and project financing from Afreximbank over the last decade. This, he said, reflects both the scale of Nigeria’s economy and the depth of its engagement with the institution. He also highlighted Afreximbank’s growth from an initial capital of $750 million to over $40 billion in assets as of 2024.
Beyond financial milestones, Cardoso commended the bank’s strategic foresight and responsiveness in navigating complex global challenges, including economic fragmentation and geopolitical tensions.
“We must not overlook the growing threats to our development,” he warned. “Trade protectionism, fragmented global cooperation, and shifting power dynamics are eroding our progress and undermining the cohesion of the international system.”
Looking ahead, Cardoso laid out a bold agenda anchored on sustainable growth, digital transformation, energy and food sovereignty, and a thriving private sector. He urged African leaders and institutions to move from ambition to action.
“Afreximbank has helped us dream big,” he declared. “Now is the time to deliver big. Let us build the resilient institutions that our people need—not just for today, but for generations to come.”
In a bid to deepen engagement with Nigerians abroad, the CBN governor announced the launch of two new financial products—the Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account. These are designed to facilitate safer, more efficient remittance and investment flows from the diaspora into Nigerian markets.
The Afreximbank meetings, themed “Building the Future on Decades of Resilience,” provided a platform to explore opportunities for accelerating trade, attracting investment, and fostering innovation across the continent.
As Africa grapples with new global realities, Cardoso’s message underscored the urgency of unity, the promise of economic self-determination, and the necessity of bold institutional reform.