The Central Bank of Nigeria, CBN, says the Media, rather than policymakers, now play a key role in its strategy to rebuild public confidence and strengthen the nation’s financial system.
The Deputy Governor, Corporate Services, Ms. Emem Usoro stated this at the 37th Finance Correspondents and Business Editors Seminar held in Lagos.
The Seminar was themed “Aligning Monetary and Fiscal Policies Towards Achieving a Robust Financial System.”
Usoro said; the success of the apex bank’s policy reforms increasingly depends on transparency and public engagement, noting that “effective communication has become critical to economic recovery.”
“Effective communication strengthens public understanding and supports successful policy outcomes. While progress has been made, more work is required to improve macroeconomic fundamentals and the standard of living for Nigerians.
“This makes partnership among policy regulators and the media even more important,” she said.
Usoro highlighted that under the leadership of Governor Olayemi Cardoso, the CBN has implemented a series of “well-sequenced and compliance-driven measures” intended to address economic headwinds and restore stability.
She said; “Guided by strong and transparent leadership, the Bank has implemented orthodox foreign trade and monetary policies, strengthened corporate governance, and advanced the ongoing Bank Recapitalisation Programme. These actions, aligned with the Nigerian Government’s reform agenda, have helped restore stability and improve key macroeconomic indicators.”
According to the CBN, recent monetary policy actions are already yielding positive results, particularly in lowering lending rates and easing financial pressure on businesses and households.
“Inflation has declined to 16.05%, the exchange rate has stabilised below ₦1,005 with minimal volatility, and external reserves now exceed $46 billion—providing more than 10 months of import cover. Monetary policy adjustments are supporting lower lending rates as inflation continues to ease,” Usoro explained.
She was represented at the event by the Acting Director of Corporate Communications, Ms. Hakama Sidi Ali.
Represented by Mr. Adamu Anthony, the CBN Branch Comptroller for Lagos, Mr. Diablo Amoighoye emphasised that coordination between fiscal and monetary authorities is essential to sustain financial system stability.
Amoighoye said; “Monetary policy, with its focus on price stability and liquidity, and fiscal policy, which drives public investment and social equity, must work together.
“Misalignment between the two can lead to inefficiencies and inflationary pressures. But when harmonised, they restore investor confidence, deepen financial markets, support inclusive growth, and strengthen the naira and external reserves.”
The Director General of Voice of Nigeria, VON, Mallam Jibrin Ndace, also cautioned that in an era of expanding digital finance, misinformation poses significant risks capable of destabilising markets.
Ndace urged journalists to promote narratives that foster public confidence as institutions work to consolidate Nigeria’s economic gains.
Mercy Chukwudiebere