National Wire About Nigerians, Nigerian Business and Other Stories
The Central Bank of Nigeria (CBN) held a seminar for Finance Correspondents and Business Editors on November 20-21, 2025, in Lagos, themed “Aligning Monetary and Fiscal Policies Towards Achieving a Robust Financial System.”
In her keynote address, CBN Deputy Governor, Ms. Emem Usoro, highlighted the bank’s progress in implementing monetary policies and fiscal reforms aimed at stabilizing the economy and improving the financial system.
Ms. Usoro noted that when the current CBN management team assumed office two years ago, the macroeconomic environment was challenging, with high inflation, unstable naira, low external reserves, and significant FX backlogs.
However, through well-sequenced and compliance-driven measures, including orthodox monetary policies, strengthened corporate governance, and the ongoing bank recapitalization program, the bank has been able to restore stability and improve key macroeconomic indicators.
According to Ms. Usoro, inflation has declined to 16.05%, the exchange rate has stabilized below ₦1,500/$ with minimal volatility, and external reserves now exceed $46 billion, providing over 10 months of import cover. Monetary policy adjustments are also supporting lower lending rates as inflation continues to ease.
The Deputy Governor emphasized the importance of partnerships among policymakers, regulators, and the media in achieving a robust financial system.
She noted that aligning fiscal and monetary policies is essential to strengthening the financial system, enhancing regulation, and ensuring resilience, especially as technological innovation and digital finance continue to expand.
Ms. Usoro also highlighted the critical role of the media in communicating the benefits and progress of reforms to the public. She stated that effective communication strengthens public understanding and supports successful policy outcomes.
While acknowledging the progress made, Ms. Usoro emphasized that more work is required to improve macroeconomic fundamentals and the standard of living for Nigerians.
She expressed her sincere expectation that the seminar would provide a platform for participants to identify key actionable takeaways that will help improve interactions between fiscal and monetary authorities, thereby better aligning policies, enhancing policy outcomes, and ultimately improving the overall well-being of Nigeria.
The seminar provided a platform for open discussions and recommendations that will enhance understanding of current government reforms and the collaboration needed to ensure positive outcomes for Nigerians. The CBN has assured that it will carefully analyze and aspire to implement the recommendations of the seminar’s discussions.
