CBN Unveils Plans to Curb Inflation and Stabilize Economy – Cardoso

CBN Governor Olayemi Cardoso outlines new strategies aimed at curbing inflation and stabilizing Nigeria’s economy amid rising financial pressures.

Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), states that the central bank is committed to controlling inflation and stabilizing the country’s economy.

He announced this in Abuja at the 2025 Monetary Policy Forum, which included participation from fiscal authorities, legislators, private sector representatives, development partners, subject-matter experts, and scholars.

In his discussion on the topic “Managing the Disinflation Process,” the central bank leader emphasized that the objective of the CBN is to maintain a monetary policy that is proactive, flexible, and robust.

He stated that the CBN is maintaining its disciplined approach to monetary policy.

To effectively manage disinflation in the face of ongoing shocks, it is essential to implement robust policies and ensure coordination between fiscal and monetary authorities. This alignment helps anchor expectations and sustain investor confidence.

“Our primary emphasis should continue to be on maintaining price stability, transitioning towards an inflation-targeting framework as planned, and implementing strategies to enhance purchasing power and alleviate economic difficulties,” Cardoso stated.

He mentioned that the steps implemented by the CBN have led to noticeable advancements, including relative stability in the foreign exchange market, reduced disparities in exchange rates, and an increase in external reserves exceeding $40 billion as of December 2024.

On Thursday, January 30, 2025, CBN Governor Olayemi Cardoso hosted the Monetary Policy Forum 2025. The event brought together fiscal authorities, legislative representatives, private sector leaders, development partners, subject-matter experts, and scholars to discuss the theme: “Managing the Disinflation Process.”

He stated that the central bank is committed to enhancing the banking sector by introducing new minimum capital requirements for banks, set to take effect in March 2026. This initiative aims to ensure resilience and prepare Nigeria’s banking industry for a $1 trillion economy.

As we transition from unconventional to conventional monetary policy, the CBN stays dedicated to rebuilding trust, enhancing policy credibility, and concentrating on its fundamental mission of

He highlighted that the CBN introduced the Nigeria Foreign Exchange Code, representing a significant advancement in promoting integrity, fairness, transparency, and efficiency within our foreign exchange market.