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CBN Governor Cardoso Commits to Orthodox Monetary Policies for Stronger Economic Confidence
Photo: Businessday NG
2026-05-24 22:56   Economy   12

CBN Governor Cardoso Commits to Orthodox Monetary Policies for Stronger Economic Confidence

Olayemi Cardoso, the Governor of the Central Bank of Nigeria, don talk say the bank no go go back to those unorthodox interventionist policies wey dem dey use before.

According to am, the current reforms wey dem dey do dey help restore credibility, improve price stability and bring back confidence into the Nigerian economy.

During the Monetary Policy Committee workshop for Abuja, Cardoso explain say the CBN don shift back to proper orthodox monetary policy after period of weak autonomy and policy distortions.Im talk say the bank go stick to transparency and evidence-based decisions.

Before this administration, monetary policy credibility don suffer well well because of blurred lines between fiscal and monetary functions, opaque forex management and too much reliance on unconventional tools.All these things cause persistent inflation, volatile exchange rates and low investor confidence.But now, with tighter liquidity management, better communication and rules-based framework, things dey improve small small.The policy rate don become the main signalling tool again, and forex market transparency don reduce volatility and help stabilise the naira.Inflation wey still high don begin moderate, and the economy dey show resilience to external shocks.Cardoso also mention say dem dey strengthen internal governance with data-driven analysis and better coordination.The recent banking recapitalisation exercise na evidence of improved regulatory work.Im warn say the bank go resist any pressure to bring back broad intervention programmes wey fit destroy the balance sheet.

Deputy Governor Muhammad Sani Abdullahi also talk about the workshop wey aim to deepen technical capacity for better policy making in this complex global environment.Overall, the message clear: CBN committed to orthodox approach to build long-term stability and growth for Nigeria.

Full reading at Businessday NG

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