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CBN leads financial dialogue with JP Morgan, NGX, others, in pre-spring meetings Forum
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By Dr. Ibrahim Modibbo
In anticipation of the International Monetary Fund (IMF) and World Bank Group (WBG) Spring meetings which commenced on Monday, April 21, 2025, the Central Bank of Nigeria (CBN) partnered with J.P. Morgan, the Nigerian Exchange Group (NGX) and Africa Private Capital Association (AVCA) to host a high-profile global forum at Nasdaq MarketSite in New York on Thursday, April 17, 2025, according to press statement by Dr Ibrahim Moddibo.
The forum, titled “The Nigeria Investment Agenda: Pathways for Growth & Global Partnerships,” convened global investors, diaspora leaders, and senior financial stakeholders to examine Nigeria’s macroeconomic prospects and ongoing reform progress.During his commanding address, Governor Olayemi Cardoso outlined his comprehensive reform strategy encompassing monetary tightening, foreign exchange market transparency, and enhanced financial governance.
He emphasized that these initiatives are establishing the foundation for sustainable macroeconomic stability and heralding a new era of transparency and confidence.Governor Cardoso reaffirmed the CBN’s unwavering commitment to rebuilding credibility through orthodox monetary policy, transparency, and consistency.
“We inherited a crisis of confidence but chose a different path. We’re not turning back,” he stated decisively.In a powerful fireside chat between the Governor and Nobel Prize-winning economist Dr. James Robinson, Reverend Richard L. Pearson Professor at the University of Chicago, Governor Cardoso elaborated on his vision to reestablish the CBN as a credible, trusted institution – rooted in domestic excellence and respected internationally.Mr. Muhammad Sani Abdullahi, Deputy Governor for Economic Policy at the CBN, delivered a macroeconomic update highlighting sharp increases in foreign exchange turnover, emerging signs of disinflation, and strengthening external reserves. “With a market-determined exchange rate and a transparent, rules-based policy framework, confidence is gradually being restored in Nigeria’s economy,” he noted.
Welcoming participants to the forum, Dr. Nkiru Balonwu, Adviser to the CBN Governor on Stakeholder Engagement and Strategic Communication, framed the forum as a key moment in the Bank’s broader engagement strategy. “Today is more than a conversation,” she noted.
It’s about opening the books on the CBN’s transformation story under Governor Cardoso – sharing the facts, interrogating the progress, and looking ahead together at what more can be done to build sustainable partnerships and unlock long-term capital,” she explained.
Another key highlight of the event was the panel discussion entitled “Repricing Nigeria: Assessing the Scope for Sustained Change.” Moderated by Gavin Serkin, Founder of New Markets Media & Intelligence, the panel featured global financial luminaries: Joyce Chang, Chair of Global Research at JPMorgan Chase; Jason Rekate, Global Co-Head of Corporate Banking at Citi; Razia Khan, Chief Economist for Africa & Middle East at Standard Chartered; and Ahmad Zuaiter, Co-Founder & CIO of Jadara Capital Partners. Each panelist provided expert perspectives on Nigeria’s investment landscape, noting renewed international interest driven by improved fundamentals, strengthened governance, and clearer policy direction.
The CBN Board and Monetary Policy Committee were represented by US-based diaspora members Mr. Robert Agbede, Prof. Melvin Ayogu, and Dr. Aloysius Ordu, underscoring the Bank’s global engagement and commitment to leveraging Nigerian talent worldwide. Temi Popoola, Group CEO of NGX, moderated the Q&A session, while Dr. Olubukola Akinniyi Akinwunmi, Director of Banking Supervision at CBN, delivered the closing remarks.The forum focused on substantive discussions and future prospects: engaging critical voices, evaluating progress, and identifying requirements for building lasting partnerships and attracting long-term capital. Central to this endeavor is a clear objective: reestablishing the CBN as a credible, trusted institution respected globally and dedicated to excellence at home.
Dr. Ibrahim Modibbo, a public affairs analyst writes from Abuja.
News
Sad: Ebola Outbreak In DR Congo Claims Over 1,400 Lives, Cases Surpass 3,200
The Democratic Republic of the Congo (DRC) is battling what health officials have described as the fastest-growing Ebola outbreak on record, with more than 1,400 people reported dead and over 3,200 confirmed cases.
According to government figures released on July 6, the death toll had risen to 1,405, while confirmed infections surpassed 3,200 since the outbreak was declared on May 15.
Health officials said the outbreak is spreading faster than any previous Ebola epidemic. During the 2013–2016 West Africa outbreak, which killed more than 11,000 people from over 28,000 confirmed cases, it took approximately eight months for the death toll to reach 1,000.
In the current outbreak, the same milestone was reached in less than 10 weeks.
The outbreak marks the 17th recorded Ebola outbreak in the DRC but only the third caused by the Bundibugyo strain of the virus. There is currently no approved vaccine or treatment specifically for the strain.
The World Health Organisation (WHO) has warned that the actual number of infections could be between two and four times higher than official figures.
Health authorities are also concerned that approximately 80 per cent of newly reported cases are emerging outside known chains of transmission, making it increasingly difficult to trace infections and contain the spread.
The outbreak has been further complicated by industrial action among healthcare workers over unpaid salaries and allowances.
About 100 doctors, nurses and security personnel at the Elikya Ebola Treatment Centre in Bunia, Ituri Province, reportedly stopped work and staged protests over unpaid performance bonuses. The disruption affected one of the region’s key Ebola response centres.
Healthcare workers at Bunia General Hospital, the largest medical facility in the region, also reportedly went on strike over unpaid salaries, with some staff telling the Associated Press that they had not received their wages since joining the Ebola response.
Director-General of the Africa Centres for Disease Control and Prevention, Jean Kaseya, told Sky News that a lack of resources was worsening the situation.
“These are people dying,” he said. “They are dying because we don’t have vaccines, we don’t have medicine, we don’t have funding.”
Ebola is transmitted through direct contact with the blood or bodily fluids of infected people or animals, as well as contaminated objects. The virus can also spread through contact with the bodies of people who have died from the disease.
Symptoms typically develop between two and 21 days after infection and may initially include high fever, severe muscle and joint pain, headaches and a sore throat.
As the disease progresses, patients may experience vomiting, diarrhoea, skin rashes, liver and kidney failure and, in severe cases, internal and external bleeding.
The Bundibugyo strain has an estimated fatality rate of between 30 and 50 per cent.
Despite the absence of an approved vaccine for the strain, researchers have begun testing an experimental vaccine developed using technology similar to that used in the Oxford-AstraZeneca COVID-19 vaccine.
According to the BBC, the first volunteer received the experimental vaccine last week as part of an early-stage clinical trial.
Meanwhile, the International Organisation for Migration (IOM) has warned that the movement of Ebola victims’ bodies between different parts of the country for funerals and burials could further accelerate the spread of the virus.
The organisation stressed that Ebola remains highly infectious after death, making safe and controlled burial practices critical to efforts to contain the outbreak.
News
Tinubu will aim at third term if health permits him- Ex- SGF Babachir Lawal claims
Ex-Secretary to the Government of the Federation (SGF), Babachir Lawal, has claimed that President Bola Tinubu could aim at a third term in office if circumstances allow it.
Lawal made the statement while speaking on The SYMFONI Podcast, where he discussed Nigeria’s political system, elections, and governance.
Reacting to questions if President Tinubu may attempt to extend his tenure beyond the constitutionally allowed two terms, the former SGF said he believed such a move could happen if the opportunity presents itself.
“But Tinubu will go for third term, if God gives him the long life to do it, he will.
What will stop him now? Blind Nigerians or a pliant National Assembly of crooks.”
Babachir Lawal, who served as Secretary to the Government of the Federation under former President Muhammadu Buhari, also criticised Nigeria’s electoral process, alleging that many political parties do not practise true internal democracy during their primaries.
He argued that after elections, aggrieved candidates often resort to legal battles while ordinary Nigerians eventually lose interest in challenging the system.
“The candidates will go to the courts and the lawyers will collect billions of naira and impoverish them further. And then that’s the end.”
News
Just in: Ahead 2027, Kano NDC Senators Meet Tinubu over Planned Defection to APC
Fresh challenge has surfaced over the political future of Kano Central Senator Rufa’i Hanga after he held a closed-door meeting with President Bola Tinubu at the Presidential Villa in Abuja, sparking widespread speculation that he may soon dump the Nigeria Democratic Congress (NDC) for the ruling All Progressives Congress (APC).
The meeting, which took place on Sunday, has intensified discussions within political circles, especially as Hanga is currently the only NDC senator representing Kano State in the National Assembly. Hanga arrived at the State House alongside former Senator Kabiru Gaya and was ushered into the Presidential Villa by Deputy Senate President Barau Jibrin.
Following the meeting, Barau described the engagement as “fruitful,” although he did not disclose details of the discussions.Government The senator’s visit to the Presidency came shortly after separate meetings with APC National Chairman Nentawe Yilwatda and Kano State Governor Abba Yusuf, further fueling reports that he is preparing to cross over to the APC ahead of the 2027 general elections. Political observers believe the sequence of high-level consultations is a strong indication that Hanga may be set to formally align with the ruling party after his relationship with NDC leader Rabiu Kwankwaso reportedly deteriorated.
The alleged rift between the two politicians became public after Hanga failed to secure the NDC senatorial ticket for another term and was also overlooked for the party’s deputy governorship nomination.
Executive Branch Analysts say welcoming Hanga into the APC would strengthen the party’s influence in Kano, particularly in Kano Central Senatorial District, one of the state’s most politically significant constituencies. Hanga is regarded as an experienced politician with deep roots in northern Nigerian politics.
He previously served as the founding National Chairman of the Congress for Progressive Change (CPC), the political platform established by former President Muhammadu Buhari before it merged with other parties to form the APC in 2013.Africans & Diaspora Over the years, the senator has built a reputation for maintaining close contact with his constituents through grassroots empowerment initiatives and welfare programmes across the 15 local government areas that make up Kano Central, including Kano Municipal, Tarauni, Dala, Nassarawa and Fagge. Although opinions remain divided over his personal political strength, supporters insist he enjoys considerable influence among traditional institutions, community leaders and grassroots supporters.
Many analysts believe that joining the APC could provide Hanga with renewed political relevance, access to federal support and the opportunity to secure a strategic position within the party in Kano State. His fallout with Kwankwaso became more pronounced during a recent radio interview in Kano, where he openly accused the former governor of betraying him by denying him both a return Senate ticket and the NDC deputy governorship slot.
Responding to claims that his age and health influenced the decision, Hanga dismissed the argument and insisted he remained physically fit to continue serving. “How can Kwankwaso cite my age and health condition to deny me the chance? As of today, I am healthier than Kwankwaso.
His frequent references to my leg condition are nothing but a sham. Regarding age, he is two years older than I am,” Hanga said. He maintained that his leg condition has never affected his performance in the Senate and accused the NDC leadership of deliberately sidelining him.
With political realignments gathering momentum ahead of the 2027 elections, Hanga’s latest engagements with President Tinubu and senior APC leaders have further intensified speculation that a formal defection announcement could be imminent.
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