The central bank governor of Nigeria, during a conversation at the Nigerian Economic Summit (NES30), expressed positivity about the country’s economic future. Despite the time it might take for changes to be noticeable, the governor urged against pessimism.
Acknowledging the challenges inherited, the governor highlighted the task of stabilizing the currency and managing inflation through orthodox economic strategies in 2024, including consistent interest rate hikes to address inflation concerns.
Addressing the banking sector, the governor emphasized the need for banks to fortify their capital reserves to withstand economic pressures and align with national economic growth projections.
Additionally, the governor outlined plans to enhance the banking system’s efficiency and transparency, collaborate with partners to support youth empowerment, especially in remittances, and strengthen regulatory frameworks for effective operations.