The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, on Wednesday, July 22, 2026, presented the Bank’s First Half (H1) 2026 Statutory Briefing to the Senate Committee on Banking, Insurance and Other Financial Institutions.
CBN Governor Olayemi Cardoso said the first half (H1) of 2026 consolidated key gains in inflation moderation, FX market stability, external reserve accumulation, banking-sector resilience and market infrastructure reform.
Cardoso cited the successful conclusion of the Banking Sector Recapitalisation Programme as one of the CBN’s major H1 2026 achievements, which has strengthened the resilience, capacity and competitiveness of Nigeria’s banking industry.
During the briefing, the Governor highlighted the Bank’s key achievements in H1 2026, including sustained progress in inflation moderation, foreign exchange market stability, external reserve accumulation, banking sector resilience and market infrastructure reforms. He also identified the successful conclusion of the Banking Sector Recapitalisation Programme as a major milestone that has strengthened the resilience, capacity and competitiveness of Nigeria’s banking industry.
Looking ahead, Mr. Cardoso reaffirmed the CBN’s unwavering commitment to restoring price stability and achieving single-digit inflation over the medium term through evidence-based monetary policy and improved policy transmission. He outlined the Bank’s priorities for the second half of 2026, including post-recapitalisation supervision, deeper foreign exchange market reforms, inflation targeting, the implementation of the Payments System Vision 2028, cybersecurity and safeguarding financial system stability.
Expressing optimism about Nigeria’s economic outlook, the Governor reiterated that the CBN will continue to make evidence-based decisions guided by its statutory mandate and focused on the long-term interests of the Nigerian people.
For H2 2026, Mr Cardoso listed the CBN’s priorities as including post-recapitalisation supervision, deeper FX market reforms, inflation targeting, Payments System Vision 2028, cybersecurity and financial system stability.
Governor Olayemi Cardoso reaffirmed the CBN’s commitment to evidence-based decision-making, guided by its statutory mandate and directed towards the long-term interests of the Nigerian people.
The Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Mukhail Adetokunbo Abiru, commended the CBN for its efforts in ensuring stability in the foreign exchange market, improving liquidity and reducing market distortions.
A stable financial system creates a stronger foundation for businesses, investors, and the wider economy. Looking forward to seeing the impact of these initiatives.
