The Central Bank of Nigeria (CBN) on Tuesday said that it was strongly committed to maintaining monetary, price and financial system stability, which is at the heart of the apex bank.
Ag. Director, Corporate Communications, Investor & Relations Department, CBN, Mrs Hakama Sidi Ali, stated this in an address at the CBN Fair in Lafia, the Nasarawa State capital, on Tuesday.
According to her, the CBN Fair was one of the Bank’s platforms strategically designed to engage the public on the Bank’s policies and initiatives.
Mrs Ali noted that the objective of the fair was to promote sustainable economic growth and development of the country, and to seek input and practical ways to improve the livelihoods of Nigerians.
She said that the theme Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development ‘, was carefully chosen to highlight the connections that drive critical activities of the desired bank: monetary, price and financial system stability, which, she said, was at the heart of the Apex bank.
This is as she said that the CBN, under the leadership of Mr Olayemi Cardoso, was strongly committed to maintaining monetary and price stability, and performing other essential functions of the bank as outlined in the CBN Act, 2007, as amended.
The Ag. Director, Corporate Communications & Investor Relations, stated that the efforts being made by the Olayemi Cardoso-led management of the CBN were already yielding positive results, as shown in the moderate decline in inflation.
“Under the leadership of Mr Olayemi Cardoso, the Bank’s management remains strongly committed to maintaining monetary and price stability and to performing other essential functions of the Central Bank of Nigeria, as outlined in the CBN Act, 2007, as amended.
These efforts are already yielding positive results, evidenced by the moderate decline in inflation, ongoing growth in our foreign reserves, and the current stability in the foreign exchange market.
“The latest data from the National Bureau of Statistics (NBS) indicate that headline inflation fell slightly from 15.91% in June to 15.43% 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 2%. Nigeria’s foreign reserves remain above US$52.5 billion as of July 17, 2026, marking a 17-year high and surpassing the CBN’s yearly target. This is supported by sustained inflows and renewed investor confidence and participation across asset classes in Nigeria.
“Over the past 34 months, the Governor has led bold reforms to establish the much-needed foundation for Nigeria’s next economic, promoting inclusive growth and job creation to alleviate poverty”, she said.
She urged Nigerians to always rely exclusively on information published on the Central Bank of Nigeria’s official and verified platforms, and to uphold the cleanliness and respect of the Naira, stating that spraying, hawking, counterfeiting or mutilation of the Naira was prohibited by the bank.
Earlier in an opening address, Controller, Central Bank of Nigeria (CBN) Lafia branch, Mrs Njideka Nwabukwu, said the event was organised to enlighten the public about various initiatives of the bank, as the event provide providesorm for valuable feedback to help the bank in service delivery.
She said that the theme of the fair, ” Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Development”, underscores the bank’s unweaving unwaveringt to leveraging innovation and technology to bring Nigerians into the financial system and to stimulate sustainable economic growth.
The Lafia CBN branch Controller stated that CBN has recorded notable milestones in deepening financial inclusion through alternative payment channels, and urged participants at the fair to become ambassadors of financial inclusion and to embrace digital payment solutions in their daily transactions.
