At the opening of the Afreximbank Annual Meetings (AAM) in Abuja, the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, revealed that the country is set to embark on a foreign reserve diversification strategy as part of broader monetary reforms aimed at strengthening the foreign exchange market, boosting diaspora remittances, and ensuring naira stability. Although he did not delve into specific details, Cardoso explained that the strategy would involve reducing reliance on the US dollar by incorporating other major currencies such as the euro, yen, and yuan, as well as assets like gold and Special Drawing Rights (SDRs). He highlighted the introduction of two financial products—the non-resident Nigerian ordinary account and the non-resident Nigerian investment account—targeted at providing Nigerians abroad with secure, efficient channels for managing and investing their funds in the Nigerian financial system. According to him, these measures are designed to harness the economic potential of the diaspora, drive investment into critical sectors, and reinforce efforts to diversify Nigeria’s revenue and reserve base. He stressed the importance of such initiatives in enabling African countries to build resilience against global economic shocks and reaffirmed the CBN’s commitment to restoring confidence among stakeholders and international partners.