CBN Reaffirms Commitment to Financial Stability in Bauchi

On Thursday, during a stakeholders’ fair in Bauchi, Mrs Hakama Sidi-Ali, the Acting Director of Corporate Communications and Investor Relations at the Central Bank of Nigeria (CBN), reaffirmed the Bank's commitment to maintaining monetary and financial system stability. Represented by Michael Dalyop, the CBN Branch Controller in Bauchi, Sidi-Ali emphasized the importance of controlling inflation and ensuring price stability.

She reported that Nigeria's foreign reserves had risen above $52.5 billion as of July 17, 2026, marking a 17-year high. This increase was attributed to sustained foreign exchange inflows and improved investor confidence.

Sidi-Ali noted a marginal decline in headline inflation from 15.93% in May to 15.91% in June 2026, linked to disciplined monetary tightening and improved market transparency. The CBN has implemented several reforms over the past 34 months aimed at fostering sustainable economic growth, including the unification of the foreign exchange market and the introduction of a 75% Cash Reserve Ratio on non-Treasury Single Account public sector deposits.