Abuja, Feb. 18, 2025 – The Central Bank of Nigeria (CBN) has called for stronger economic ties between the Middle East and the Nigerian Diaspora community in the region.
Olayemi Cardoso, the Governor of the Central Bank of Nigeria, sought the cooperation while speaking with Talal Al-Humond, Assistant Governor in Saudi Central Bank, on the sidelines of the inaugural Conference on Emerging Markets Economies in Saudi Arabia.
The two-day conference was held in Al Ula, Saudi Arabia, from February 16 to Feb. 17, 2025.
According to a statement by the CBN on Monday, Cardoso particularly sought for collaboration in areas of infrastructure, tourism, and financial sector development.
Cardoso said Saudi Arabia’s focus on economic diversification, large-scale transformation, and investment in tourism served as a model Nigeria could a learn from in its efforts to boost economic growth.
He also reaffirmed his willingness to collaborate with the Nigerian Diaspora community in the Middle East to improve remittance flows and strengthen the country’s financial sector.
He stated that CBN would continue to use enhance macroeconomic fundamentals to establish an environment that will facilitate the growth of the private sector and the generation of high-quality jobs for Nigerians.
In his response, Al-Humond assured Cardoso of Saudi Arabia’s willingness to collaborate on mutually beneficial economic objectives. (GBN)
