Apex bank chief tells Senate inflation is moderating and the foreign exchange market remains relatively stable amid global economic pressures.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has expressed confidence in the country’s economic outlook, stating that Nigeria’s economy continues to demonstrate resilience despite persistent global uncertainties.
Cardoso made the remarks during an interactive session with the Senate Committee on Banking, Insurance and Other Financial Institutions, chaired by Senator Adetokunbo Abiru.
He assured lawmakers that despite external pressures, including heightened geopolitical tensions in the Middle East and volatility in the global economy, Nigeria has maintained steady economic growth across key sectors.
According to the CBN governor, inflationary pressures have remained moderate, while the foreign exchange market has continued to record relative stability.
Cardoso noted that the resilience of the Nigerian economy reflects the impact of ongoing reforms and policy measures aimed at strengthening macroeconomic stability and sustaining growth.
He reaffirmed the apex bank’s commitment to implementing policies that will preserve price stability, support investor confidence and promote sustainable economic development.
The CBN boss also assured the Senate committee that the bank remains focused on safeguarding the nation’s financial system while responding proactively to emerging global and domestic economic challenges.