State Governors in the country have commended the Central Bank Of Nigeria’s (CBN’s) management for the coordinated approach it is adopting with fiscal authorities in its reform initiatives to enhance the banking system and achieving financial stability in the country.
In a statement issued at the end of its 5th meeting on Thursday, the governors, under the aegis of the Nigeria Governors’ Forum (NGF), noted that the collaboration of the apex bank with the fiscal authorities had helped, based on its recent performance indices, in positioning the nation’s economy on the path of sustainable growth.
The statement, which was signed by the NGF’s Chairman and Governor of Kwara State, AbdulRahman AbdulRazaq underscored the importance of sustained collaboration by key agencies to support growth and states’ fiscal sustainability.
He explained that the NGF received a presentation from the CBN Governor, Olayemi Cardoso, who was 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.
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The statement partly reads: “The Forum received a presentation from the Governor of the Central Bank of Nigeria, represented by the Deputy Governor (Economic Policy), Dr. MuhammadAbdullahi, on the bank’s ongoing stabilization efforts to restore price stability and strengthen confidence in the economy.
“The briefing highlighted recent policy measures, including the tightening of monetary policy, unification of exchange rate windows, and recapitalisation of banks, to curb inflation, enhance liquidity management, and consolidate macroeconomic stability.
“Governors commended the CBN’s coordinated approach with fiscal authorities and underscored the importance of sustained collaboration to safeguard growth and state fiscal sustainability”, the NGF Chairman added.
According to him, the Director-General of the Department of State Services (DSS), Mr. Adeola Ajayi, also made a presentation at the meeting on emerging security threats and intelligence-led strategies to strengthen subnational coordination.
AbdulRasaq stated that the brief focused on countering violent extremism, managing inter-communal tensions, and addressing security risks linked to economic hardship and political transition.
The governors also thanked the DSS for its proactive engagement and reiterated their commitment to deepen intelligence sharing and collaboration with federal security agencies to enhance peace and stability across the states.
