CBN Governor to Address Recapitalisation of Nigerian Banks at NBCC Trade Mission to UK

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has been confirmed as one of the notable speakers for the Nigerian-British Chamber of Commerce (NBCC) trade mission to the United Kingdom from June 24 to 28, 2024. He would speak on the “Impact of the Recapitalisation of Nigerian Banks.”

The NBCC announced that the 45th trade mission, themed “Unveiling Untapped Trade Opportunities Across the UK & Nigeria,” aims to attract Foreign Direct Investment (FDI). Ray Atelly, President and Chairman of the Council of NBCC, emphasised the importance of this theme, noting that it comes at a crucial time when the Nigerian economy needs revitalization through increased foreign investments.

Atelly highlighted that the NBCC trade mission is designed to attract foreign investments to Nigeria, particularly focusing on non-oil sectors. He stressed the necessity of diversifying Nigeria's economy and reducing its dependence on crude oil, especially as the country faces challenging economic conditions due to the decline in global oil prices.

According to Atelly, “The 2024 NBCC Trade Mission promises to be a landmark event in our bilateral relations, opening doors to new opportunities and fostering a deeper economic partnership.

“The mission is a significant component of the Chamber’s efforts to promote bilateral trade and build stronger economic ties between Nigeria and Britain.

“The Trade Mission would feature a Business Roundtable at the Nigeria High Commission; Nigeria Investment Summit; hosting the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, on the “Impact of the Recapitalisation of Nigerian Banks”; Business to Business Meetings British Chambers of Commerce: Global Annual Conference; SMEs Exhibitions; Company visits/Tour Networking and Gala Night”.