The Central Bank of Nigeria (CBN) Governor, Dr. Olayemi Cardoso, has revealed his proudest moment since assuming office.
Speaking during a question-and-answer session at the September 2026 Monetary Policy Committee Meeting (MPC) in Abuja on Tuesday, Dr. Cardoso said, “My proud moment: stability from a situation of great volatility to one where the market is stable. You can plan, you can project; the external position is not 5, 10 years, 15 years, it’s 18 years better than it has been. This is a big deal; the numbers speak for themselves.”
Key Details from the Statement
- Market Stability: He noted that the market is now stable.
- Better Planning: He explained that stability helps people and businesses plan and project for the future.
- Stronger External Position: He pointed out that the country’s external economic position is better than it has been in 18 years.
Commentators have commended the CBN under Dr. Cardoso for monetary system stability.
“This is the part of economic reform that doesn’t always make headlines: predictability. Nigeria has moved from extreme FX volatility toward a market where businesses can plan, investors can project, and the external buffer is significantly stronger. The numbers are beginning to tell that story. Now the next challenge is translating macro stability into lower prices and stronger purchasing power for Nigerians,” Native Land Chronicles @nativeland_pod tweeted on the microblogging app, X.
“No matter where you stand politically, you cannot doubt or undermine the good work the CBN Governor has done with Nigeria’s Macro Economy. The Hon. Min. Of Finance must now ensure the Macro Economy aligns with the Micro Economy. Inflation must go down, not just in numbers but in daily prices of household items” Moyosola Layori Oso @Spectmo also tweeted on X.
