The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that strong monitoring frameworks anchored on consistency, fairness and accountability are essential to sustaining the credibility and stability of Nigeria’s foreign exchange market.
Cardoso made the statement while emphasising the need for improved regulatory oversight and discipline in the FX market to strengthen investor confidence and ensure transparency in transactions.
“Strong monitoring frameworks built on consistency, fairness and accountability are critical to maintaining the credibility and stability of Nigeria’s foreign exchange market,” he said.
He noted that a stable and well-regulated FX market remains central to economic confidence, capital inflows and long-term macroeconomic stability.
The CBN governor’s remarks come amid ongoing reforms in Nigeria’s foreign exchange system aimed at improving liquidity, reducing volatility and restoring confidence among market participants.
Analysts say sustained regulatory discipline and transparent market operations are key to achieving lasting stability in the foreign exchange environment.
