Cardoso champions stronger Nigeria, Saudi ties

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), has reiterated the Bank’s dedication to enhancing economic cooperation between Nigeria and the Kingdom of Saudi Arabia.

During a courtesy visit to the CBN headquarters by His Excellency Faisal bin Ibrahim Alghamdi,
the Ambassador of the Kingdom of Saudi Arabia to Nigeria, and his delegation recently, Cardoso emphasised the Bank’s commitment to fostering partnerships across critical sectors that drive economic growth.

He stated that the CBN is prepared to play a critical role in fostering collaboration and that the two countries would see substantial economic benefits from improved cooperation.

“The Central Bank of Nigeria remains committed to advancing partnerships that will deepen economic ties between Nigeria and Saudi Arabia. We will continue to explore opportunities that yield tangible benefits for both countries,” Cardoso stated.

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He also commended the Saudi government for its hospitality during the recently concluded AIUla event, hosted by the Saudi Ministry of Finance in collaboration with the International Monetary Fund (IMF) Regional Office in Riyadh.

In his response, His Excellency Alghamdi expressed appreciation for the warm reception from the CBN Governor and reiterated Saudi Arabia’s interest in expanding bilateral cooperation. He emphasised the Kingdom’s readiness to work with Nigeria in key economic sectors, particularly in Renewable energy, Agriculture, and Water connectivity.

“We are eager to strengthen our relationship with Nigeria and explore mutually beneficial opportunities that will contribute to the prosperity of both nations,” Ambassador Alghamdi stated.

The visit marks another milestone in Nigeria-Saudi relations, as both countries seek to leverage their respective strengths for long-term economic growth and stability.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.