The Central Bank of Nigeria has outlined new reforms aimed at strengthening the financial system and driving productivity. Governor Olayemi Cardoso, represented at a CBN fair in Kano, said the bank is prioritising financial inclusion, monetary stability, and support for small businesses.
Key measures include banking recapitalisation, foreign exchange reforms to unify rates and attract investment, and initiatives to expand credit in housing, food, and healthcare. Cardoso said specialised financial institutions and new regulatory frameworks are being developed to stimulate growth across critical sectors.
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The bank also launched its Payments System Vision 2028 to accelerate digital transformation, alongside a Unified Complaints Tracking System and a USSD verification code to protect customers.
Participants were urged to rely only on official CBN communication channels as the regulator works to boost confidence and transparency in Nigeria’s financial system.
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