Era of interventions with no results over – Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, says the era of interventions by the bank which has not yielded results is over, adding that current reforms are repositioning the Nigerian economy on a more sustainable growth trajectory. Cardoso said this on Tuesday in Abuja, while delivering a keynote address at […]

The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, says the era of interventions by the bank which has not yielded results is over, adding that current reforms are repositioning the Nigerian economy on a more sustainable growth trajectory.

Cardoso said this on Tuesday in Abuja, while delivering a keynote address at the 2025 Annual Executive Seminar of the apex bank with the theme, “Deepening Reforms: Path to Diversification and Sustainable Growth”.

According to Cardoso, “while most of the reforms came with short-term challenges, they were essential to repositioning the economy on a more sustainable growth trajectory.”

 

 

 

He added, “Gone are the days of endless interventions by the bank which yielded no results. Now we have undertaken critical reforms which are reshaping the economy on the part of growth which we must protect.”

 

 

 

Cardoso stated that Nigeria’s financial markets in a shifting global landscape highlighted the need to strengthen investor confidence through credible policies, transparent markets and sound governance.

 

 

 

“The second one emphasises the importance of a credible inflation targeting regime to enhance predictability, guide market expectations and anchor long-term investments for sustainable growth,” he said.

 

 

 

Also speaking, The Minister of State for Finance, Dr. Doris Uzoka-Anite, stated that the ministry deeply valued the robust relationship with the CBN.

 

 

 

Uzoka-Anite said that the finance ministry, together with the CBN formed the fiscal and monetary pillars of Nigeria’s economic stability, adding that Nigeria’s goal was to generate gross domestic product of over four per cent per annum by 2027.

 

 

 

Similarly, CBN’s Deputy Governor, Economic Planning, Dr. Mohammed Abdullahi, said that the annual seminar had served as a strategic platform for the apex bank’s leadership to critically examine the emerging domestic and global macroeconomic trends.