The Central Bank of Nigeria (CBN) Governor Olayemi Cardoso outlined the gains of the financial sector reforms on businesses and the economy, stressing that while the economic reforms were difficult, they have started bearing positive results.
Cardoso pointed to stability in exchange rate, stronger economic buffers, dip in inflation numbers, increased foreign investors’ participation and improved sovereign rating as evidence of the early success of macroeconomic reforms.
The impact of orthodox monetary policy adoption and reforms on the exchange rate has continued to reverberate across key sectors of the economy.