CBN committed to achieving monetary, price stability–Cardoso

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the apex bank commitment to achieving monetary and price stability in the Nigerian economy.

In his keynote address at the 58th Annual Bankers Dinner in Lagos, Cardoso, emphasized that the bank’s policies are geared towards ensuring a more stable exchange rate, controlling inflation, and creating an enabling environment for businesses and individuals to thrive.

“Our commitment to achieving monetary and price stability is not just a technical objective, but it has real-life implications for the well-being of our citizens.” Says Cardoso.

“Through targeted policies, transparent market operations, and coordination between monetary and fiscal authorities, we can ensure a more stable exchange rate, control inflation, and create an enabling environment for businesses and individuals to thrive” Cardoso added.

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Commitment to achieving monetary and price stability, adoption of an inflation targeting framework and repositioning the CBN as a catalyst for economic stability and growth are some of the major highlights of Olayemi Cardoso’s first policy speech, since becoming Governor of the Central Bank of Nigeria in September.

58th Annual Bankers Dinner, which was held on Friday, November 24 at the Eko Hotels Lagos, also marked the grand finale of the Chartered Institute of Bankers of Nigeria’s 60th Anniversary, underscoring six decades of commitment to professionalism, integrity, and innovation in the banking and finance industry.

Cardoso highlighted the importance of good corporate governance in underpinning financial stability and supporting economic growth.

“Under my leadership, the Central Bank of Nigeria will tackle institutional deficiencies, restore corporate governance, strengthen regulations, and implement prudent policies.

“We assure investors and the business community that the economy will experience significant stability in the short-to-medium term as we recalibrate our policy toolkits and implement far-reaching measures” He concluded.

Cardoso’s commitment reflects the CBN’s wider mandate of promoting sustainable and inclusive economic growth for Nigeria and Nigerians.