According to the Central Bank of Nigeria (CBN), it is keeping a careful eye on banks to make sure they are meeting the recapitalization deadline.
This was said over the weekend in Abuja at the CBN day at the ongoing Abuja International Trade Fair (AITF) by Hakama Sidi Ali, Acting Director, Corporation Communications Department of CBN.This year’s Trade Fair theme, “Sustainability: Consumption, Incentives, and Taxation,” she said, is in line with the CBN’s ongoing efforts to diversify Nigeria’s productive base, with an emphasis on increasing the export of non-oil commodities, and the CBN Governor, Mr. Olayemi Cardoso,’s objective of boosting investor confidence, which is demonstrated by a notable rise in foreign investments.
She went on to say that the CBN takes part in the Fair every year in order to educate and enlighten a wide range of stakeholders about its policies and initiatives, which are crucial for promoting economic activity, inclusivity, and international recognition.Under the direction of Mr. Olayemi Cardoso, the management of the Central Bank of Nigeria is committed to tackling the issues facing the Nigerian economy in order to increase productivity and fortify the local economy against unfavorable external shocks.
“A tripod is the foundation for achieving economic sustainability. Strong financial institutions, a steady foreign currency market for efficient planning, and close coordination between the fiscal and monetary authorities are all examples of this. As a result of the Bank’s efforts in these areas, our external reserves increased from $40.51 billion at the end of July 2025 to $43.05 billion on September 11, 2025.
About The Author
