The Central Bank of Nigeria has committed to maintaining monetary and financial system stability, saying it will continue to pursue policies aimed at controlling inflation, ensuring price stability and supporting sustainable economic growth.
The assurance was contained in a statement issued by the apex bank on Thursday following a one-day stakeholders’ fair held in Bauchi to promote financial inclusion, improve public awareness of the bank’s operations and obtain feedback on its policies and services.
Speaking at the event, the Acting Director of Corporate Communications and Investor Relations, Mrs Hakama Sidi-Ali, said the CBN remained committed to delivering on its statutory mandate through sound monetary policies.
Represented by the CBN Branch Controller in Bauchi, Michael Dalyop, Sidi-Ali said, “The reforms introduced under the current leadership are beginning to yield measurable results, including improved macroeconomic stability, easing inflation and stronger confidence in the foreign exchange market.”
She noted that the stakeholders’ fair was one of the bank’s strategic initiatives aimed at improving the lives and livelihoods of Nigerians through enhanced financial literacy and wider access to alternative payment channels.
According to the CBN, Nigeria’s external reserves rose above $52.5bn as of July 17, 2026, representing a 17-year high and exceeding the bank’s annual target. It attributed the increase to sustained foreign exchange inflows, renewed investor confidence and stronger participation across different asset classes.
The apex bank said the improving reserves position reflected the impact of ongoing economic reforms, which it said were restoring stability to the country’s financial system.
Sidi-Ali also highlighted the moderation in inflation, noting that headline inflation declined from 15.93 per cent in May to 15.91 per cent in June 2026, while both food and core inflation also eased.
She attributed the trend to disciplined monetary tightening, exchange rate unification and improved market transparency.
According to her, the naira has continued to strengthen, with the gap between the official foreign exchange rate and Bureau De Change rates narrowing to below two per cent, which she described as evidence of increasing stability in the foreign exchange market.
