The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso has called for strategy on Artificial Intelligence (AI) that will be driven by board and management of the apex bank.
He spoke during a joint press briefing at the end of the 2026 Annual meetings of the IMF/ World Bank held in Bangkok, Thailand.
Cardoso said the CBN had extensive conversation around the topic and has idnetified the opportunities it presents.
“AI is something that has oportunities despite its risks. It will help in production of drugs,” he said.
He said headline inflation declined to 14.63 per cent in September 2026 from approximately 34.8 per cent at the end of 2024.
He said: “External reserves have risen above 55 billion U.S. dollars, marking the highest level in 18 years. Formal remittances are approaching 1 billion U.S. dollars monthly. The banking sector mobilized 4.65 trillion naira in fresh capital through a recapitalization exercise, with over 70 percent raised from domestic investors”.
According to Cardoso, Nigeria’s sovereign outlook was recently revised from stable to positive by international assessments. He said Nigeria
“The central bank remains focused on price stability, maintaining monetary discipline, and safeguarding financial system stability. Monetary policy will continue to be data-dependent and well-communicated. Achieving single-digit inflation remains a primary medium-term objective for the bank,
“ he added.
He said that during the banking consolidation, banks raised N4.65 trillion, with 73 per cent coming from domestic investors.
“ I mean, that’s a big deal, and it’s a reflection of the fact that Nigerians now, unlike the past, where they would the first thing they would do is externalize their money, are now confidence in their own markets. That is something that we hope to protect, “ he said.
Cardoso said the central bank remains focused on price stability and maintaining monetary discipline.
“A recent monetary policy decision in September reset the monetary policy rate from 26.5% to 23%. The medium-term goal is to achieve single-digit inflation through data-dependent and well-communicated policies,” he said.
 Governor, Olayemi Cardoso has called for strategy on Artificial Intelligence (AI) that will be driven by){kind=link}