CBN Restates Pledge to Safeguard Nigeria’s Economy

The Central Bank of Nigeria has once again pledged to prioritise stability in the financial system while driving growth and inclusion across the economy.

Governor Olayemi Cardoso gave the assurance during the 2025 CBN Fair in Kano, held at the Mineet Event Centre on Tuesday. Represented by the Acting Director of Corporate Communications, Mrs. Hakama Ali, he explained that the fair was created to give Nigerians a direct platform to engage with the apex bank on policies that support national development.

According to Cardoso, the bank’s focus is not only on sustaining monetary and price stability but also on promoting productivity and broadening financial participation. “The objective of this forum is to help Nigerians understand how our policies impact their lives and contribute to economic growth,” he noted.

He highlighted recent measures such as exchange rate unification, which was introduced to curb arbitrage and reduce volatility in the foreign exchange market. The governor also pointed to ongoing bank recapitalisation, which is expected to strengthen financial institutions, enhance competitiveness, and support Nigeria’s vision of building a $1 trillion economy.

Other initiatives include the non-resident Bank Verification Number (BVN), designed to give Nigerians abroad better access to the local financial system, and the Nigeria Payments System Vision 2028, which seeks to fast-track digital transformation and boost financial inclusion.

Cardoso also mentioned the Unified Complaints Tracking System, introduced to protect consumers and increase trust in banking services.

In her welcome address, the Acting Branch Controller of CBN Kano, Hajiya Saudatu Muhammad, described the theme of the fair as timely, stressing that it would help participants apply new knowledge to strengthen the economy.

The fair attracted representatives of commercial banks, mobile money operators, the National Orientation Agency, security agencies, business groups, academia, and the media. It featured lectures, interactive sessions, and exhibitions designed to deepen public understanding of CBN policies.