The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, yesterday called for routine disclosure of debt portfolios and borrowing activities.
He said such publication was crucial for transparency as well as building trust with investors, creditors, and the public – effectively creating a virtuous cycle that reduces borrowing costs and promotes efficient debt management.
Speaking at the opening of the regional training on Annual Borrowing Plan (ABP) development, which was jointly organised by the World Bank, International Monetary Fund (IMF), and WAIFEM in Abuja, Cardoso also called for strengthening national capacities for debt management, adding that this was vital for meeting the government’s funding needs in the present and future in a cost-effective and risk-conscious manner.
Represented by CBN acting Director, Ladi Bala-Keffi, the CBN governor stressed that publishing the country’s Debt Management Strategy (DMS) was particularly essential as it demonstrates the government’s unwavering commitment to fiscal strategy, promoting transparency and accountability in debt management practices.
