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CBN deputy governor hails Tinubu’s reforms, FG–CBN synergy at UNIUYO convocation

Deputy Governor of the Central Bank of Nigeria (CBN), Emem Usoro, has praised President Bola Tinubu’s economic reforms and the strengthened collaboration between the Federal Government and the apex bank, saying the partnership is helping to build a more resilient economy.​ Usoro spoke at the weekend in Uyo after she was conferred with an honorary Doctor of Business Administration degree during the combined 10th, 11th and 12th convocation ceremony of the University of Uyo. She told the graduating students that the CBN is actively implementing policies to stabilise the economy, avert crises and create opportunities for young Nigerians.​ “At the Central Bank of Nigeria, we are working to build a resilient economy that will support your aspirations and position you within a global economy filled with opportunities,” she said. Usoro explained that, in close collaboration with the Federal Government, the […]

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Cardoso says Nigerian economy now stronger against global shocks

Nigeria’s economy is now stronger and better positioned to withstand global economic shocks, according to Central Bank of Nigeria Governor Olayemi Cardoso . Speaking at the Africa Capital Forum in London on the sidelines of President Bola Ahmed Tinubu’s state visit to the United Kingdom, Cardoso said the financial system is being strengthened through disciplined monetary policies and institutional reforms . He explained that the CBN is reviewing its policy framework to make decisions more predictable and reduce uncertainty for investors, with the goal of developing clear, consistent and meaningful policies rather than relying on discretion . Cardoso disclosed that the apex bank has completed work on a new Payments System Vision for Nigeria, which will soon be launched to position the country as a major player in digital payments and cross border transactions across Africa . On the foreign […]

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CBN Holds Rates at 27.5% for Third Straight Meeting as Inflation Cools

CBN Maintains Hawkish Stance as Inflation Shows Mixed Signals The Central Bank of Nigeria (CBN) kept its key policy rate unchanged at 27.5% for the third consecutive meeting, adopting a cautious approach as inflation shows tentative signs of cooling. Key Decisions:✔ MPR held at 27.5% (unanimous 12-0 MPC vote)✔ CRR maintained at 50% for banks, 16% for merchant banks✔ Liquidity ratio steady at 30%✔ Asymmetric corridor unchanged at +500/-100bps "This pause sustains our disinflation momentum while containing price pressures," said CBN Governor Olayemi Cardoso. Inflation Breakdown: The Good and Bad News 📉 Headline Inflation:• June: 22.22% (down from 22.97% in May)• Driver: Cheaper energy (cooking gas, diesel, charcoal) 📈 Underlying Pressures:• Monthly inflation rose to 1.68% (from 1.53%)• Core inflation jumped to 22.76% (services, housing costs)• Food inflation remains stubbornly high Why the CBN Is Walking a Tightrope 🔍 The Delicate Balance:✅ Progress: 3-month disinflation trend validates tight policy⚠️ Risks: Rising month-on-month and core inflation🎯 Long-game: CBN targets single-digit inflation eventually "Energy price moderation helped, but services and housing […]

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