Governors Hail CBN’s Coordination With Fiscal Authorities to

James Emejo in Abuja

Nigeria Governors’ Forum (NGF) has commended the Central Bank of Nigeria (CBN) for its coordinated approach with the fiscal authorities in addressing macroeconomic challenges.

The commendation was contained in a communique issued at the end of the 5th meeting of the forum in Abuja
 The communique, signed by Chairman of NGF, and Governor of Kwara State, Abdul Rahman Abdul Razaq, also stated that the partnership between the monetary and fiscal authorities further underscored the importance of sustained collaboration to safeguard growth and state fiscal sustainability.

The forum received a presentation from the CBN Governor, Mr. Olayemi Cardoso,
on the apex bank’s ongoing stabilisation efforts to restore price stability and strengthen confidence in the economy.
Represented by CBN Deputy Governor, Economic Policy, Dr. Muhammad Sani Abdullahi, Cardoso, highlighted recent policy measures, including the tightening of monetary policy, unification of exchange rate windows, and recapitalisation of banks.
He also discussed the bank’s efforts to curb inflation, enhance liquidity management, and consolidate macroeconomic stability.

Recent reforms and monetary tightening stance by the central bank had seen relative stability in the Foreign Exchange (FX) market, as well as disinflation in recent months.
Cardoso’s efforts had also seen a boost in investor confidence, leading to increased capital inflows and investments in the country.