CBN Pledges to Enhance Productivity and Stabilize Economy Amid Global Challenges

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CBN Pledges to Enhance Productivity and Stabilize Economy Amid Global Challenges

CBN's Commitment to Economic Resilience and Innovation

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to enhancing productivity and strengthening the local economy against external shocks, under the leadership of Mr. Olayemi Cardoso. This dedication was highlighted during the CBN Special Day at the ongoing 20th Abuja International Trade Fair (AITF), which took place over the weekend. The event, themed "Sustainability: Consumption, Incentives, and Taxation," was organized by the Abuja Chamber of Commerce and Industry (ACCI).

Mrs. Hakama Sidi Ali, Acting Director of the Corporate Communications Department at the CBN, emphasized the bank's ongoing efforts in this regard. She stated that achieving economic sustainability relies on a three-pronged approach: strong financial systems, a stable foreign exchange market for effective planning, and robust collaboration between monetary and fiscal authorities.

Mr. Ibrahim Abbas, Deputy Director and Head of the Communication Management and Strategy Division, represented Sidi Ali at the event. He noted that the CBN's initiatives in these areas are yielding positive results. For instance, external reserves reached $43.05 billion as of September 11, 2025, an increase from $40.51 billion at the end of July 2025. This growth reflects the central bank’s continuous efforts to address macroeconomic challenges and ensure the banking system remains resilient.

Addressing Macroeconomic Challenges

The CBN acting director also highlighted the bank’s focus on maintaining the stability of the financial sector. Most financial soundness indicators remain within their respective prudential benchmarks, indicating a healthy and robust banking environment. This stability is crucial for supporting economic activities and fostering investor confidence.

In addition to stabilizing the economy, the CBN is committed to driving innovation in the payments system landscape. The Payment Systems Vision 2028 is a key initiative aimed at future-proofing the country’s payments ecosystem. This vision seeks to broaden financial inclusion, particularly in rural areas, while improving security and minimizing downtime for faster, safer, and more efficient transactions.

Emphasizing the Value of the Naira

A significant part of the CBN's message centered around the importance of the Naira as a symbol of national identity. Mrs. Sidi Ali urged Nigerians to respect the currency, emphasizing that it should not be sprayed, hawked, mutilated, or counterfeited. She encouraged citizens to become ambassadors for the Bank's clean Naira notes, stating, “Our Naira, our pride.”

This call to action underscores the CBN’s belief that the responsibility of maintaining the integrity of the currency lies not only with the bank but with every Nigerian. The central bank also reiterated its commitment to ensuring the availability of clean currency notes with the right mix, reinforcing the importance of a well-maintained and respected national currency.

Collaboration and Stakeholder Engagement

Sidi Ali called for continued cooperation from all stakeholders, noting that collective effort is essential to overcoming economic challenges and guiding the nation toward robust and inclusive growth. She extended an invitation to participants of the AITF to visit the CBN Pavilion, where a team was available to address public inquiries about the bank’s policies, programs, and services.

The CBN Pavilion provided an opportunity for attendees to learn more about the bank’s efforts in protecting customers, managing the Naira, supporting the microfinance sub-sector, and other policies that impact the banking sector.

Alignment with National Goals

The theme of the AITF aligns with the CBN’s broader goals of diversifying Nigeria’s productive base and boosting the export of non-oil commodities. This focus on non-oil exports is critical for reducing the economy’s dependence on oil and promoting sustainable growth.

Furthermore, the theme resonates with the vision of CBN Governor Mr. Olayemi Cardoso to improve investor confidence, which has been reflected in a notable increase in foreign investments. By participating in the fair annually, the CBN aims to raise awareness and sensitize stakeholders about its policies and programs, which are vital for boosting economic activities, inclusiveness, and achieving global recognition.


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