Cardoso made this prediction on Monday.
He said: “The reforms of the Bola Tinubu government are encouraging investors to return to the country”.
According to the CBN governor, foreign investors have taken an interest in understanding the reforms and how the economy has progressed.
Also, Cardoso asserted that as international investors invest in Nigeria, foreign exchange volatility will reduce, resulting in the naira’s stability.
Foreign Investors Are Monitoring The Nigerian Market
“Today, I would say that we have a situation where a lot of foreign portfolio investors are very interested in coming back to the Nigerian market.
The CBN boss revealed that foreign investors are keenly studying the Nigerian market to see where they can come in.
According to him, having crude oil sales funds in the CBN boosts the confidence of foreign investors in Nigeria, which leads to a stable economy.
We Are Winning Foreign Investors Confidence
Furthermore, he highlighted that “The recent move to have NNPC and some of the other MDAs move their funding straight to the CBN also sends a very powerful signal and boosts investors’ confidence.
“It is in the right direction, as the confidence comes back and their money starts coming in, volatility begins to reduce.
You May Also Like: How CBN’s Emefiele Impersonated SGF To ‘Scam’ $6.2M From The CBN
“As the volatility reduces and the foreign exchange market stabilises, the naira, which is currently undervalued, will stabilise,” the optimistic CBN governor explained.
