CBN promises to sustain monetary, financial system stability

The Central Bank of Nigeria (CBN) has pledged to uphold monetary and financial system stability, vowing to continue implementing policies aimed at curbing inflation, ensuring price stability, and fostering sustainable economic growth. This assurance follows a stakeholder fair in Bauchi, designed to promote financial inclusion, enhance public understanding of the bank's operations, and gather feedback.

Mrs. Hakama Sidi-Ali, the Acting Director of Corporate Communications and Investor Relations, stated that reforms under the current leadership are yielding positive results, including improved macroeconomic stability, easing inflation, and increased confidence in the foreign exchange market. She emphasized that the stakeholders' fair is a strategic initiative to improve Nigerians' lives through better financial literacy and access to alternative payment channels.

Nigeria's external reserves have surged above $52.5 billion as of July 17, 2026, marking a 17-year high and exceeding the bank's annual target. This increase is attributed to consistent foreign exchange inflows, renewed investor confidence, and robust participation across various asset classes. The CBN views this growth as a reflection of ongoing economic reforms that are restoring stability to the nation's financial system.

Sidi-Ali also noted a decline in headline inflation, which fell from 15.93% in May to 15.91% in June 2026, with both food and core inflation also easing. This trend is credited to disciplined monetary tightening, exchange rate unification, and enhanced market transparency. The naira has strengthened, narrowing the gap between official and Bureau De Change rates to below two percent, signaling increasing stability in the foreign exchange market. The CBN has implemented numerous reforms over the past 34 months to build a foundation for sustainable economic growth, job creation, and poverty reduction.

“

The reforms introduced under the current leadership are beginning to yield measurable results, including improved macroeconomic stability, easing inflation and stronger confidence in the foreign exchange market.