The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the economy of the country has been strengthened due to the monetary reforms he has introduced in the bank.
He stated this yesterday in Lafia during the opening ceremony of the CBN fair with the theme: “Driving alternative payment channels as tools for financial inclusion, growth and accelerated economic development”.
Represented by the Acting Director, Corporate Communications and Investor relations Department of CBN, Hakama Sidi Alli, the CBN governor, said the reforms he introduced at the bank resulted to the moderate decline in inflation, ongoing growth in foreign reserves, and the current stability in the foreign exchange market.
According to him “the latest data from the National Bureau of Statistics indicate that headline inflation fell slightly from 15.92per cent in June to 15.43per cent in July 2026.
Core and food inflation also eased over the same period, reflecting the effects of disciplined monetary tightening, exchange rate unification, and improved market transparency. The Naira continues to strengthen, with the spread between official and Bureau de Change rates now narrowing to below two per cent.
