Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has expressed certainty that, inflation in Nigeria is coming “under greater control”, adding, Nigerians are now regaining confidence in the country’s legal tender, the Naira.
Cardoso’s statement is coming after the Nigerian Apex Bank’s Monetary Policy Committee (MPC) voted “unanimously” to retain MPR at 27.50%, CRR at 50%.
According to the Central Bank of Nigeria: “CBN Governor, Olayemi Cardoso, has expressed optimism that inflation in the country is coming under greater control and that Nigerians are regaining confidence in the Naira.
“Mr. Olayemi Cardoso has cited stability in the foreign exchange market, a positive trade surplus in Nigeria, and the restoration of investor confidence as major outcomes of the reforms under his watch as CBN Governor.
“Cardoso has reiterated the CBN’s determination to collaborate with fiscal authorities to ensure consistency in policy thrust and reduce uncertainties.
“CBN Governor, Cardoso, has stated that the Bank aims to achieve single-digit inflation given the positive economic trajectory. He has also assured that the Bank will be transparent in managing Nigerians’ inflation expectations.
“The MPC observed stable financial soundness indicators and urged sustained regulatory oversight to ensure continued resilience, safety, and soundness of the banking system.
“CBN Governor, Olayemi Cardoso, says the non-resident BVN is a catalyst for change, noting that it is advancing financial inclusion for Nigerians in the Diaspora.
“The CBN Governor, Cardoso, has clarified that the Purchasing Managers’ Index (PMI) report released by the Bank does not reflect the views of the Bank, but rather the sentiments of businesses across the economy.
“With eight months remaining until the end of the banking recapitalisation programme, Governor Olayemi Cardoso has announced that eight banks have already exceeded the minimum recapitalisation requirement.
“Governor Cardoso has stated that investor interest in Nigeria’s banking sector has increased, and that the Bank remains committed to enforcing rules to maintain stability and sustain confidence.
““We are strengthening thought leadership at the CBN, engaging with diverse perspectives, enhancing learning channels, and encouraging open dialogue. The CBN is evolving, shifting from how you have traditionally seen the Bank to a more inclusive, dynamic, and transparent institution,””
