The Central Bank of Nigeria (CBN) has issued a statement clarifying its stance on the nation’s monetary policy guidelines, following recent speculations and concerns about the direction of Nigeria’s economic framework. This development comes as the country faces economic challenges, including inflation, foreign exchange volatility, and concerns over the weakening naira.
In a press release on Thursday, the CBN reaffirmed its commitment to maintaining macroeconomic stability and promoting sustainable economic growth. The bank emphasized that its primary mandate remains centered on controlling inflation, managing liquidity, and ensuring the stability of the financial system.
According to the CBN, recent monetary policy measures, including interest rate adjustments and foreign exchange interventions, were designed to address rising inflationary pressures and stabilize the naira. The bank also highlighted its intention to continue these interventions where necessary, ensuring that the Nigerian economy remains resilient in the face of global and domestic economic challenges.
“The CBN’s approach to monetary policy is driven by a need to balance inflation control with the broader goal of economic growth,” the statement read. “We are actively working to ensure that inflation is brought under control, while also facilitating access to credit for businesses and consumers.”
In response to growing concerns from stakeholders, the CBN assured Nigerians that it is closely monitoring the economic situation and will implement measures that safeguard the interests of all sectors of the economy. The bank stressed that transparency and data-driven decisions remain at the core of its operations.
The statement comes at a critical time when businesses and investors are looking to the CBN for clearer guidance on how upcoming policy decisions will impact the financial landscape. The bank urged stakeholders to remain calm and assured the public that it would continue to communicate its policies effectively to avoid misinformation or panic.
With continued focus on key areas such as inflation management, exchange rate stability, and credit facilitation, the CBN assured that its ongoing reforms are intended to position Nigeria for long-term economic growth and resilience in the global economy.
