Cardoso Urges African Regulatory Cooperation
Analysis based on 6 articles · First reported Mar 24, 2026 · Last updated Mar 25, 2026
The call for strengthened cooperation among African financial regulators and Nigeria's proactive reforms, including the Banking Sector Recapitalisation Programme, are expected to enhance financial stability across the continent. This could lead to increased investor confidence in African banks and financial systems, potentially attracting more foreign capital and fostering sustainable growth.
Yemi Cardoso, Governor of the Nigeria — Central Bank of Nigeria, urged African financial regulators to enhance cooperation in managing cross-border risks at the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum. He emphasized that regional financial integration is outpacing political coordination, necessitating shared prudential principles. Cardoso highlighted Nigeria's proactive regulatory leadership, including the 2024 Banking Sector Recapitalisation Programme, which attracted ₦4.61 trillion in new capital, with 27% from foreign investors. The Nigeria — Central Bank of Nigeria also reaffirmed its commitment to robust corporate governance, implementing measures like restricting banking services to chronic defaulters. The forum, co-hosted by the International Monetary Fund, focused on emerging risks such as digital finance, AI, and climate-related financial threats, underscoring the need for regional coordination and proactive regulation to safeguard Africa's financial systems.
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