The Central Bank of Nigeria has called for greater adoption of alternative payment channels to expand access to financial services and stimulate economic activity. Acting Director, Corporate Communications and Investor Relations Department of the CBN, Hakama Sidi-Ali, made the call at the 2026 CBN Fair in Lokoja, Kogi State.
The event, which focused on “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,” was organised to educate the public on the apex bank’s policies, reforms and consumer protection initiatives.
Represented by Zubairu Salihu, Branch Controller of the CBN Lokoja Branch, Sidi-Ali said the bank’s reforms under Governor Olayemi Cardoso were producing improvements across key areas of the economy.
She cited the decline in headline inflation from 15.91 per cent in June to 15.43 per cent in July 2026, as well as the increase in foreign exchange reserves to more than $52.5bn.
She cited the decline in headline inflation from 15.91 per cent in June to 15.43 per cent in July 2026, as well as the increase in foreign exchange reserves to more than $52.5bn. Sidi-Ali described the reserve level as a 17-year high, saying it reflected an improvement in Nigeria’s external financial position.
