Olayemi Cardoso, the Governor of the Central Bank of Nigeria, on Wednesday, said the apex bank remains on course to achieve single-digit inflation over the medium term, as a combination of monetary and foreign exchange reforms continues to strengthen macroeconomic stability, lift Nigeria’s external reserves to $52.73 billion and restore investor confidence.
Cardoso said the reforms had also supported the appreciation of the naira, boosted official diaspora remittances and consolidated gains recorded in 2025 despite persistent global economic headwinds.
The CBN governor disclosed this while briefing the Senate Committee on Banking, Insurance and Other Financial Institutions during a statutory engagement required under the CBN Act, which mandates the governor to brief the National Assembly twice yearly.
The session, chaired by Tokunbo Abiru, the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, marked the Committee’s first statutory engagement with the apex bank in 2026.
Accompanied by Deputy Governors Lami Uyiguda, Philip Ikeazor, Muhammad Sani Abdullahi and Emem Usoro, alongside Directors of key departments, Cardoso said the first half of 2026 had witnessed further consolidation of the macroeconomic gains achieved through reforms implemented over the last three years.
