Reported by: Oahimire Omone Precious | Edited by: Gabriel Osa
The Governor of the Central Bank of Nigeria delivered a landmark address at the 60th Annual Bankers’ Dinner hosted by the Chartered Institute of Bankers of Nigeria, marking his first public speech of 2023. The event offered a platform to provide a comprehensive account of the Bank’s reform journey, underscoring Nigeria’s gradual transition from a period dominated by crisis management to a phase characterized by renewed economic stability and recovery.
During his address, the Governor reflected on the progress achieved under his leadership, presenting a scorecard that illustrated tangible improvements in the banking sector and broader financial system. He highlighted that Nigeria’s current trajectory is increasingly anchored on stability, sound governance, and strengthened institutional frameworks. The Governor emphasized that the Central Bank’s approach is not only reactive but strategic, focusing on building a resilient financial architecture capable of supporting sustainable economic growth.
Looking ahead to 2026, the Governor outlined a forward-looking agenda aimed at consolidating recent gains. He stressed the imperative of strengthening the banking system through rigorous supervision and enhanced governance, ensuring that financial institutions operate with integrity and resilience. He also articulated the Bank’s commitment to refining the inflation-targeting framework, a critical mechanism for achieving durable price stability and safeguarding the purchasing power of Nigerians.
The Governor further underscored the importance of modernizing payment systems to expand digital and contactless channels, thereby increasing financial inclusion and improving the efficiency of transactions across the economy. He expressed a clear dedication to fostering responsible fintech innovation, emphasizing that technological advancement must be balanced with robust consumer protection measures, cybersecurity safeguards, and adherence to sound regulatory standards.
Beyond sector-specific initiatives, the Governor emphasized institutional strengthening within the Bank itself, highlighting efforts to deepen capacity, streamline operational processes, and expand coordination with both domestic and international partners. He conveyed that these measures are crucial not only for reinforcing the Bank’s internal efficiency but also for enhancing Nigeria’s standing as a credible and forward-looking economy on the global stage.
In closing, the Governor reaffirmed the Central Bank’s overarching mission of safeguarding stability and building a resilient economy capable of delivering sustainable and shared prosperity. He reiterated that the institution remains committed to earning the trust and respect of Nigerians, ensuring that policy decisions translate into tangible benefits for citizens and foster confidence in the nation’s financial system.
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