CBN Reports Inflation Drop and Record High Reserves

At the CBN Fair held on Thursday in Lokoja, Kogi State, Mrs. Hakama Sidi Ali, the Acting Director of Corporate Communications and Investor Relations at the Central Bank of Nigeria (CBN), announced a slight decline in inflation from 15.91% in June 2026 to 15.43% in July 2026. The fair, themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,” aimed to engage the public on CBN policies and promote sustainable economic growth.

Under the leadership of Mr. Olayemi Cardoso, the CBN has maintained monetary and price stability, with foreign reserves exceeding $52.5 billion, marking a 17-year high. The Naira has strengthened, with a narrowing spread between official and Bureau de Change rates.

The fair also encouraged respect for the Naira as a national symbol. Governor Ahmed Usman Ododo emphasized the fair's focus on opportunities and development beyond banking technology.