Reported by: Agande Richard Aondofa | Edited by: Henry Owen
Abuja – The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the Bank’s commitment to maintaining orthodox monetary policy as part of its strategy to achieve single-digit inflation in the medium term. The governor made the remarks during a conversation with Hélène Rey, Lord Bagri Professor of Economics at London Business School, on Friday, October 10, 2025.
Governor Cardoso emphasized that the CBN’s policy framework is designed to ensure price stability while supporting sustainable economic growth across Nigeria. He noted that the Bank remains focused on balancing inflation control with measures that encourage productive investment, financial stability, and long-term economic resilience.
Speaking on the importance of disciplined monetary policies, Cardoso highlighted that orthodox policy tools—including interest rate management, liquidity control, and exchange rate stability—are critical for maintaining investor confidence and mitigating macroeconomic risks. He added that adherence to these principles is necessary to navigate both domestic and global economic challenges, particularly in a period marked by fluctuating commodity prices and global inflationary pressures.
The governor also stressed that the Bank’s commitment to price stability is central to its broader developmental objectives, including enhancing employment, promoting sustainable growth, and protecting the purchasing power of citizens. He underscored the importance of consistent communication and policy transparency to build credibility with market participants and the general public.
Professor Hélène Rey, a renowned economist, engaged in discussions with Governor Cardoso on the role of central banks in emerging economies, the effectiveness of monetary policy in managing inflation, and strategies to support long-term economic stability. The exchange highlighted the need for Nigeria to maintain disciplined economic governance while adapting to global financial trends.
The CBN has, in recent years, pursued a cautious approach to monetary policy, adjusting interest rates and managing liquidity to ensure price stability while encouraging investment. With inflation currently trending above single digits, achieving the Bank’s target remains a key priority for policymakers.
Governor Cardoso’s remarks reaffirm the central bank’s commitment to orthodox monetary policies as a cornerstone for sustainable economic development and macroeconomic stability in Nigeria.
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