The Central Bank of Nigeria(CBN) has said it would remain steadfast in the implementation of policies and regulatory frameworks aimed at maintaining economic stability.
It also reaffirmed its commitment to advancing structural reforms, and enhancing collaboration with key institutional stakeholders and partners to keep the economy in healthy condition.
Governor of CBN, Olayemi Cardoso gave these assurances in his address during the special day of the apex bank at the 37th Enugu International Trade Fair with the theme, “Empowering MSMEs for Global Competitiveness”.
Cardoso, who was represented by the CBN Acting Director, Corporate Communications and Investor Relations, Mrs Hakama Sidi Ali, also harped on the need for Nigerians to treat the nation’s currency with utmost respect.
“We are also committed to ensuring the supply of clean notes in the appropriate mix,” he said, pleading with “all Nigerians to see the Naira as a critical symbol of our national identity”.
“Do not mutilate or counterfeit the Naira or spray it. Always keep the Naira clean,” the CBN Governor said.
He stated that the apex bank has “implemented bold and fundamental reforms aimed at strengthening the economy, to withstand external shocks, and restore investor confidence”.
According to him, the reforms have “increased transparency and liquidity in the foreign exchange market, with the new forex manual removing many restrictions, capital control, and simplifying trade and investment procedures”.
“The CBN has also unveiled plans for a new payment system vision for Nigeria, aiming to position the country as a regional leader in digital and cross-border payments,” Cardoso stated.
Reviewing the ongoing reform agenda of apex bank, he explained that “the bank is transitioning to inflation targeting, which is a significant shift towards a more transparent, forward-looking, and rules-based monetary policy system, anchored in long-term price stability”.
The CBN Governor noted that the policy will also help shape market expectations and limit the disruptive effects of supply-side shocks.
“It is gratifying and worthy of note that these reforms, anchored in orthodox monetary policy, institutional transparency, and market-driven foreign exchange frameworks, have earned the CBN the Central Bank of the Year 2026 award from the Central Banking Awards Committee in London,” he said.
The man at the helm of affairs at the apex bank expressed gratitude to the organisers of the Enugu Fair “for consistently inviting CBN to take part in this well-organised and impactful trade fair”.
Cardoso noted that the Enugu Fair has “over the years, remained one of our most significant platforms for direct engagement with our diverse stakeholders, which positively impact the broader economy”.
He said that the theme of the fair aligns with the CBN reform agenda and the policies designed to promote sustainable economic growth and development, recognising that micro, medium, and small enterprises are the engine of growth for any economy.
