Central Bank of Nigeria (CBN) Governor Olayemi Cardoso stated on Wednesday that Nigeria's economy continues to demonstrate strong resilience despite external pressures. He made the remarks during an interactive session with the Senate Committee on Banking, Insurance, and Other Financial Institutions.
Cardoso highlighted that the CBN's monetary policy measures have helped stabilize the economy, including efforts to curb inflation and support the naira. He noted that the bank remains committed to its mandate of maintaining price stability and fostering economic growth.
The governor also addressed concerns about foreign exchange liquidity, stating that the CBN is working to improve market transparency and attract foreign investment. He emphasized that the bank's policies are yielding positive results, with gradual improvements in key economic indicators.
Cardoso's comments come amid ongoing challenges such as global inflationary pressures and domestic fiscal constraints. The CBN has implemented several reforms since Cardoso took office, including a more flexible exchange rate regime and tighter monetary policy to combat rising prices.
