The Central Bank of Nigeria (CBN) has reiterated its pledge to advance economic growth, financial inclusion, and price stability to bolster the nation’s economic recovery.
This reaffirmation came from CBN Governor Mr. Olayemi Cardoso during the opening of the 2025 CBN Fair, held on Tuesday at the Mineet Event Centre in Kano.
Represented by Mrs. Hakama Ali, the Acting Director of Corporate Communications at CBN, Cardoso addressed an eager audience of stakeholders, stressing the bank’s ongoing efforts to strengthen Nigeria’s financial ecosystem.
“The core objective of this engagement is to inform the public on how the bank’s policies enhance daily lives and contribute to the country’s broader economic development,” said Cardoso.
Strengthening the Financial System
Cardoso highlighted key initiatives the CBN has introduced in the last two years, including the unification of exchange rates aimed at curbing currency volatility. Other significant policies, such as bank recapitalisation and the introduction of the non-resident Bank Verification Number (BVN) system, are intended to empower Nigerians abroad, facilitating better access to banking services.
The CBN Governor also mentioned the launch of the Nigeria Payments System Vision 2028 (PSV 2028), which seeks to drive digital transformation and promote financial inclusion. These moves position Nigeria for greater competitiveness in the global payments space.
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Policy to Benefit Nigerians
Among the other policies rolled out by the CBN, the Unified Complaints Tracking System was introduced to safeguard bank customers and enhance consumer confidence, a vital aspect in ensuring sustainable economic growth.
“The theme of this year’s fair, ‘Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,’ underscores the importance of supporting small and medium-sized enterprises (SMEs) and ensuring economic stability,” Cardoso noted.
A Call for Public Engagement
In her welcome address, Hajiya Saudatu Muhammad, Acting Branch Controller of CBN Kano, emphasised the fair as a significant platform for Nigerians to directly engage with the bank. “The knowledge shared at this event is essential for strengthening financial institutions and contributing to the continued growth of the Nigerian economy,” she added.
The 2025 fair attracted a diverse audience, including representatives from the Association of Mobile Money Operators, the Nigerian Army, the National Orientation Agency, and other key stakeholders. The event featured presentations on the CBN’s policies followed by interactive Q&A sessions, offering a deeper understanding of how these measures impact the economy.
