The Central Bank of Nigeria (CBN) has opened new avenues for micro, small, and medium enterprises (MSMEs) to thrive through its policies on credit facilities, intervention funds, and forex management, according to the Abuja Chamber of Commerce and Industry (ACCI).
Agabaidu Jideani, Director General of the ACCI, made these remarks during the CBN’s special day at the 20th Abuja International Trade Fair (AITF). He emphasized that the CBN plays a crucial role in stabilizing inflation and bolstering confidence in Nigeria’s financial system, which is vital for business sustainability.
“The CBN is not just a regulator but a vital enabler of growth,” Jideani stated. “Through access to credit facilities, intervention funds, forex management, and financial inclusion strategies, the CBN has created opportunities for MSMEs to thrive in a competitive environment. Its role in stabilizing inflation and ensuring confidence in the financial system remains essential to business sustainability.”
Jideani further highlighted the significance of the CBN Day at the fair, noting that it reflects the link between monetary policy, financial system stability, and the private sector’s growth. He applauded ongoing reforms such as the Open Banking Framework, expansion of contactless payments, and the regulatory sandbox for fintech innovations, which have made it easier for businesses to access finance and improve their payment systems.
The ACCI Director General also commended the CBN’s support for youth empowerment and targeted sectoral interventions in critical sectors like agriculture, housing, healthcare, and education. “These efforts not only reduce barriers to doing business but also de-risk critical sectors for private investment, fostering a more inclusive and resilient economy,” he added.
Jideani emphasized the importance of continued collaboration between the CBN and the private sector. He called on the CBN to work closely with the Chamber on policy advocacy, financial literacy, and sectoral linkages to drive inclusive growth.
Meanwhile, Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, explained that the theme of the fair, “Sustainability: Consumption, Incentives, and Taxation,” aligns with the CBN’s focus on diversifying Nigeria’s economy, especially through non-oil exports. She reiterated the CBN’s commitment to addressing economic challenges and boosting productivity.
“The CBN’s participation in the fair aims to raise awareness and sensitize stakeholders about its policies, which are critical to promoting economic activities and fostering global recognition,” Sidi Ali concluded.
The CBN’s commitment to strengthening Nigeria’s local economy and building resilience against external shocks continues to be a key priority.
