The Central Bank of Nigeria (CBN) says its reform initiatives are yielding tangible improvements in the economy, while calling for closer alignment between fiscal and monetary authorities to consolidate these gains.

Speaking at the 2025 Seminar for Finance Correspondents and Business Editors in Abuja, CBN Deputy Governor (Corporate Services), Ms. Emem Usoro, noted that coordinated policy measures over the past two years have begun stabilising key economic indicators.

She recalled that when the Olayemi Cardoso-led management assumed office, Nigeria faced severe economic challenges, including soaring inflation, a volatile naira, depleted external reserves, and mounting foreign exchange obligations—all threatening financial system stability.

The CBN responded with well-sequenced, compliance-driven measures, such as orthodox monetary tightening, enhanced corporate governance, and ongoing bank recapitalisation, aligned with the Federal Government’s broader reform agenda.

Usoro said the results are evident: inflation has eased to 16.05%, the naira has stabilised below ¦1,500/$ with minimal volatility, and external reserves have climbed above $46 billion, providing over 10 months of import cover. She added that moderating inflation is supporting a gradual reduction in lending rates, while improved foreign exchange discipline has boosted investor confidence.

Despite these achievements, Usoro stressed that sustained macroeconomic stability requires stronger fiscal–monetary coordination, particularly as digital finance and technology reshape the financial system. She also highlighted the media’s role in shaping public understanding of reforms and urged journalists to provide actionable recommendations to strengthen policy alignment.