Cardoso Says CBN Has Restored Focus on Price and Financial Stability

CBN Governor Olayemi Cardoso says the bank’s current leadership has worked to restore confidence in the naira and return the institution to its core mandate of price and financial stability. Speaking after the Monetary Policy Committee’s 307th meeting in Abuja, Cardoso said the bank inherited high inflation, multiple foreign-exchange rates, heavy Ways and Means financing and more than ₦10 trillion in interventions. He said the reforms introduced since 2023 were aimed at fixing the foreign-exchange market, curbing inflationary pressures and rebuilding confidence in Nigeria’s monetary system.

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