Governors Laud CBN’s Coordinated Reform Efforts, Stress Collaboration For Economic Stability
•By Admin
ABUJA – STATE Governors across Nigeria have lauded the Central Bank of Nigeria (CBN) management for its coordinated reform efforts with fiscal authorities aimed at strengthening the banking sector and achieving financial stability nationwide.
In a statement released after their 5th meeting on Thursday, the governors, representing the Nigeria Governors’ Forum (NGF), highlighted the positive impact of the apex bank’s joint initiatives with fiscal authorities, which they believe have set the nation’s economy on a sustainable growth trajectory based on recent performance indicators.
Signed by the NGF Chairman and Kwara State Governor, AbdulRahman AbdulRazaq, the statement emphasized the critical role of ongoing collaboration among key agencies to support economic growth and uphold states’ fiscal health.
AbdulRazaq noted that the NGF received a presentation from the CBN Governor, Olayemi Cardoso, delivered by the Deputy Governor (Economic Policy), Dr. Muhammad Abdullahi, detailing the bank’s stabilization measures aimed at restoring price stability and rebuilding market confidence.
The statement further explained: “The Forum received a briefing from the Governor of the Central Bank of Nigeria, represented by the Deputy Governor (Economic Policy), Dr. Muhammad Abdullahi, on the bank’s ongoing stabilization efforts to restore price stability and strengthen confidence in the economy.“
The presentation highlighted recent policy actions such as monetary policy tightening, exchange rate window unification, and bank recapitalization, designed to control inflation, improve liquidity management, and solidify macroeconomic stability.“
The governors praised the CBN’s coordinated efforts with fiscal authorities and stressed the need for continued collaboration to protect growth and maintain states’ fiscal sustainability,” added the NGF Chairman.
Additionally, the Director-General of the Department of State Services (DSS), Mr. Adeola Ajayi, addressed the meeting with insights on emerging security threats and intelligence-led approaches to strengthen coordination at the subnational level.
AbdulRazaq indicated that the DSS briefing focused on combating violent extremism, managing inter-communal conflicts, and mitigating security challenges arising from economic hardship and political transitions.
The governors expressed appreciation for the DSS’s proactive engagement and reaffirmed their dedication to enhancing intelligence sharing and cooperation with federal security agencies to promote peace and stability throughout the states.
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