CBN Governor Cardoso Reassures Nigerians of Strong Reforms to Restore Economic Stability

By Diafa Doubra,

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reassured Nigerians that the apex bank remains firmly committed to restoring and sustaining macroeconomic stability in the country.

Speaking during an engagement with financial sector stakeholders in Abuja, Cardoso highlighted the progress made so far in stabilizing the foreign exchange market and tackling inflationary pressures. He acknowledged the challenges facing the economy but stressed that the CBN is pursuing deliberate reforms aimed at rebuilding confidence in the banking system and driving long-term growth.

Cardoso pointed out that recent policy measures such as tightening monetary policy, strengthening regulatory oversight, and improving transparency are already beginning to yield results. According to him, the bank’s priority is to ensure price stability, boost investor confidence, and create an environment where businesses can thrive.

The CBN governor also emphasized collaboration with fiscal authorities, noting that sustainable development can only be achieved when monetary and fiscal policies work hand in hand. He assured Nigerians that the apex bank would continue to resist pressures that could derail reforms, saying the ultimate goal is to secure a more resilient and inclusive economy.

Analysts believe Cardoso’s remarks are meant to calm growing public concern over rising living costs, currency depreciation, and job losses, while also signaling to investors that Nigeria is serious about economic recovery.