The Governor, Central Bank of Nigeria (CBN), , Olayemi Cardoso, has restated the apex bank’s determination to control inflation and maintain stability in the financial system.
Cardoso in a conversation with Lord Bagri Professor of Economics at London Business School, Hélène Rey recently, reaffirmed the bank’s commitment to orthodox monetary policy aimed at achieving single-digit inflation in the medium term.
“We are headed in the right direction. The stage is set for the accelerated growth trajectory in Nigeria,” Cardoso said.
CBN Governor recounts foreign exchange market reforms under his watch, stressing the importance of transparency to stability in the market.
Cardoso also highlighted the importance of strongerbuffers for Nigerian banks, emphasising that the ongoing recapitalisation exercise has allowed banks to choose the category of license they wish to operate under.
He emphasised the importance of the CBN adopting Artificial Intelligence (AI) and digitisation for monetary purposes without compromising stability, inclusion, and trust.
In addition, Cardoso underscored the importance of Communication and coordination between monetary and fiscal authorities to ensure stability in the economy.
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