Yemisi Izuora
The Central Bank of Nigeria (CBN) has promised to broaden monetary tightening measures as part of overall economic stimulus to ensure stability in Nigeria’s economy.
The Bank said its guided policy measures has resulted in inflation decline to 16.05 per cent, while the exchange rate has stabilised below ₦1,500/$ with minimal volatility, and external reserves now exceed $46 billion, providing over 10 months of import cover.
Monetary policy adjustments are supporting lower lending rates as inflation continues to ease, the Bank reported.
The the Deputy Governor, of the Bank, Ms. Emem Usoro, in address at the Seminar for Finance Correspondents and Business Editors, which opened in Lagos on November 20–21, 2025, recalled that when the Governor, Olayemi Cardoso management team assumed office two years ago, the macroeconomic environment was challenging.
Inflation was high, the naira was unstable due to forex scarcity, external reserves and oil receipts were low, and the economy faced significant FX backlogs and dependence on ways and means financing. These conditions stressed the financial system and highlighted the urgent need for reforms.
Represented by Mrs Hakama Sidi Ali, Ag. Director, Corporate Communications Department CBN, Usoro, said the theme of the engagement, “Aligning Monetary and Fiscal Policies Towards Achieving a Robust Financial System,” is timely, as it provides an opportunity for open discussions and recommendations that will enhance understanding of current government reforms and the collaboration needed to ensure positive outcomes for Nigerians.
She said the Apex Bank, guided by strong and transparent leadership, has implemented well-sequenced and compliance-driven measures, including orthodox monetary policies, strengthened corporate governance, and the ongoing bank recapitalisation programme. These actions, aligned with the Federal Government’s reform agenda, have helped restore stability and improve key macroeconomic indicators.
These achievements reflect the commitment of the Central Bank of Nigeria under the leadership of Governor Olayemi Cardoso and his team, and underscores the importance of the media in communicating the benefits and progress of reforms to the public. Effective communication strengthens public understanding and supports successful policy outcomes.
While progress has been made, more work is required to improve macroeconomic fundamentals and the standard of living for Nigerians.
This makes partnerships among policymakers, regulators, and the media even more important, she added.
According to her, Aligning fiscal and monetary policies is essential to strengthening the financial system, enhancing regulation, and ensuring resilience, especially as technological innovation and digital finance continue to expand, adding, “Better coordination promotes transparency, accountability, policy discipline and credibility, leading to improved economic outcomes. The media also has an important role in explaining policies clearly and accurately to citizens.”