By Peter Onyekachukwu 
By Peter Onyekachukwu
The Central Bank of Nigeria (CBN) has reassured Nigerians that recent policy reforms are yielding results, with inflation showing signs of easing and the foreign exchange market recording greater stability.
CBN Governor, Mr. Olayemi Cardoso, gave the assurance in Uyo on Tuesday during the CBN Fair themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development.” He was represented by Mrs. Hakama Sidi Ali, Acting Director, Corporate Communications Department.
Cardoso said the Bank’s primary goal is to rebuild public confidence in the economy through reforms that foster productivity, financial inclusion, and price stability.
“Evidence of progress is already visible. Inflation is gradually easing, while the foreign exchange market is more stable than it was months ago. These are outcomes of deliberate policies designed to reposition our economy for growth,” he stated.
The governor highlighted key reforms, including the exchange rate unification policy, which has cleared over $7 billion forex backlog and reduced volatility, as well as ongoing recapitalisation of banks to make them globally competitive and capable of supporting Nigeria’s $1 trillion economy target.
Other initiatives include the introduction of non-resident BVN for Nigerians abroad, the BMatch System for forex trading, the Nigeria Payments System Vision 2028 (PSV 2028) to drive digital inclusion, and tighter liquidity controls on public deposits to curb inflationary pressures.
According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate eased to 20.12 percent in August 2025, a development analysts see as an early sign of policy effectiveness.
In her remarks, the CBN Uyo Branch Controller, Mrs. Njideka Nwabukwu, said the fair was significant as it allowed the apex bank to interact directly with citizens and strengthen public trust.
She noted that Akwa Ibom State would continue to benefit from CBN’s efforts through financial literacy campaigns, improved payment systems, and sustained support for economic growth.