CBN Commits to Financial Stability and Inflation Control

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining monetary and financial system stability, focusing on controlling inflation, ensuring price stability, and supporting sustainable economic growth. This assurance was made in a statement following a stakeholders’ fair held in Bauchi.

Mrs Hakama Sidi-Ali, the Acting Director of Corporate Communications and Investor Relations, represented by CBN Branch Controller Michael Dalyop, stated that recent reforms are yielding measurable results, including improved macroeconomic stability and a stronger foreign exchange market. The CBN reported that Nigeria's external reserves rose above $52.5 billion as of July 17, 2026, a 17-year high, attributed to foreign exchange inflows and renewed investor confidence.

Headline inflation decreased from 15.93% in May to 15.91% in June 2026, with food and core inflation also easing. The CBN has implemented various reforms over the past 34 months, including foreign exchange market unification and banking sector recapitalization, aimed at fostering economic growth and poverty reduction.