The Central Bank of Nigeria (CBN) has restated its unwavering commitment to achieving monetary and price stability in the nation’s economy.
Governor Olayemi Cardoso, delivering the keynote address at the 58th Annual Bankers Dinner in Lagos, emphasized that the bank’s policies are strategically designed to ensure a stable exchange rate, control inflation, and foster a conducive environment for both businesses and individuals.
Cardoso highlighted the real-life implications of the CBN’s commitment to monetary and price stability, emphasizing that it goes beyond a technical objective and directly impacts the well-being of citizens.
He underlined the importance of targeted policies, transparent market operations, and effective coordination between monetary and fiscal authorities to achieve the desired stability.
The Governor’s address marked his first policy speech since assuming the role in September, outlining key pillars such as the commitment to achieving monetary and price stability and the adoption of an inflation targeting framework.
These measures aim to reposition the CBN as a catalyst for economic stability and growth.
The 58th Annual Bankers Dinner, held at Eko Hotels Lagos, also served as the grand finale of the Chartered Institute of Bankers of Nigeria’s 60th Anniversary, celebrating six decades of dedication to professionalism, integrity, and innovation in the banking and finance industry.
Governor Cardoso addressed his vision for tackling institutional deficiencies and restoring corporate governance within the financial sector.
He emphasised the pivotal role of good corporate governance in underpinning financial stability and supporting economic growth.
Cardoso affirmed his commitment to addressing institutional deficiencies, restoring corporate governance, strengthening regulations, and implementing prudent policies under his leadership at the CBN.
He assured investors and the business community of significant economic stability in the short-to-medium term, backed by recalibrated policy toolkits and far-reaching measures.
Source: Nairametrics