CBN Plans To Curb Inflation, Stabilise Economy – Cardoso

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has expressed the apex bank’s commitment to reducing inflation and stabilizing the nation’s economy. This statement was made during the Monetary Policy Forum 2025, which brought together fiscal authorities, legislative bodies, the private sector, development partners, and scholars.

In his address, Cardoso highlighted the theme of the forum, “Managing the Disinflation Process,” and stressed that the CBN’s monetary policy would continue to be forward-looking, adaptive, and resilient in the face of economic challenges. He explained that managing disinflation amidst persistent economic shocks requires strong policies and coordination between fiscal and monetary authorities to anchor expectations and maintain investor confidence.

“The goal is to ensure price stability, transition to an inflation-targeting framework, and restore purchasing power to ease economic hardship,” Cardoso said, emphasizing that the CBN’s policies are designed to focus on long-term economic recovery.

The CBN Governor pointed to measurable progress made in the country’s economic stability, citing improvements such as relative stability in the foreign exchange (FX) market, narrowing exchange rate disparities, and an increase in external reserves, which surpassed $40 billion by December 2024.

Additionally, Cardoso noted that the CBN’s launch of the Nigeria Foreign Exchange Code represents a significant step towards enhancing the integrity, fairness, transparency, and efficiency of the FX market. These efforts are expected to further support Nigeria’s economic recovery and build investor confidence.