Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has called for deeper coordination between fiscal and monetary authorities to sustain Nigeria’s reform agenda and attract long-term investment.
Speaking at a policy dialogue in London on October 10, 2025, Cardoso highlighted transparency, credible data, and aligned policy as key to maintaining investor confidence and public trust.
“People talk about interest rates and reserves, but communication is what gives policy its power. When markets and citizens understand what we’re doing and why, policy becomes more effective,” he said.
Cardoso noted that the CBN has made deliberate efforts to explain recent reforms—including FX unification and subsidy removal—so Nigerians can understand the short-term pain as necessary for long-term stability.
He emphasized that the CBN is working closely with the Ministry of Finance, Budget Office, and other key agencies to ensure unified action on inflation, revenue, and FX management.
“No central bank can stabilise an economy alone. Alignment with fiscal policy brings predictability—and predictability is what investors price,” he said.
CBN Special Adviser Mayokun Ajibade added that real-time data sharing and coordinated messaging are now central to Nigeria’s macroeconomic management, helping cushion external shocks.
Cardoso also stressed that rebuilding trust in Nigeria’s statistics is vital. The CBN is increasing data transparency through improved disclosures, regular briefings, and international standardization.
“Now that volatility is easing, predictability is the real catalyst for growth,” he said.
He concluded that long-term reform success will depend on consistent communication and policy clarity: “Markets reward clarity, citizens reward honesty, and investors reward predictability. That’s the foundation we’re building on.”
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