The Central Bank of Nigeria has restated its determination to promote productivity, ensure monetary stability, and deepen financial inclusion as part of its strategy to support economic growth and development.
Speaking at the 2025 CBN Fair held on Tuesday at the Mineet Event Centre in Kano, the Governor of the Central Bank, Mr. Olayemi Cardoso, said the institution remains focused on policies that will strengthen the country’s financial system and create opportunities for Nigerians. The governor, represented by the Acting Director of Corporate Communications, Mrs. Hakama Ali, explained that the fair was organised to engage directly with the public and explain how the bank’s policies influence lives, livelihoods, and the overall economy.
Cardoso stressed that the fair was designed to educate Nigerians on the bank’s reforms and show how its initiatives contribute to national development. “The core objective of this engagement is to sensitise members of the public on how the Bank’s policies enhance their lives and contribute to the growth of the Nigerian economy,” he stated.
Highlighting achievements in the past two years, the CBN governor noted that several major reforms had been introduced. Among them is the unification of exchange rates to reduce arbitrage opportunities and minimise volatility in the foreign exchange market. Another key step is the recapitalisation of banks, aimed at strengthening their resilience and enhancing their global competitiveness in preparation for Nigeria’s goal of building a $1 trillion economy.
The governor also pointed to the introduction of the non-resident Bank Verification Number (BVN), a policy that connects Nigerians abroad to the local banking system. Additionally, the launch of the Nigeria Payments System Vision 2028 (PSV 2028) was described as a milestone in accelerating digital transformation, expanding financial inclusion, and positioning Nigeria more strategically in global payments.
To boost consumer confidence, Cardoso explained that the bank had created the Unified Complaints Tracking System, which allows customers to have their issues resolved more transparently and efficiently. This initiative, he said, further reinforces trust in the banking sector.
The theme of this year’s fair, “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth, and Accelerated Economic Development,” was carefully chosen to highlight the role of financial technology and alternative platforms in empowering small and medium-sized enterprises (SMEs) and stabilising prices.
Earlier, the Acting Branch Controller of CBN Kano, Hajiya Saudatu Muhammad, welcomed participants and emphasised that the fair was an important avenue for Nigerians to interact with the apex bank directly. She urged attendees to apply the knowledge gained from the event to strengthen financial institutions and contribute to economic progress.
The fair featured paper presentations on diverse topics, followed by interactive question-and-answer sessions where participants engaged with CBN officials on policy matters. The 2025 edition drew a large turnout, including representatives from commercial banks, mobile money operators, the National Orientation Agency, the Nigerian Army, the business community, academia, the media, and the National Youth Service Corps (NYSC).
Through these efforts, the CBN reaffirmed its resolve to support sustainable economic growth, improve financial systems, and ensure that its policies have tangible benefits for Nigerians at home and abroad.
