By Clement Abayomi
The Central Bank of Nigeria (CBN) has confirmed its commitment to fighting inflation, stabilising the national economy through new reforms.
Read more latest report from new daily economy
The bank’s Acting Director of Corporate Communications, Mrs. Sidi Ali Hakama, during the 37th Enugu International Trade Fair, stated that the bank’s policies have successfully reduced the country’s inflation rate over the past year.
She reported that the bank’s “steadfast” fight against inflation helped drop the headline rate from a high of 34.8% in late 2024 to 15.06% by February 2026.
Read related news:
Senate pushes for stronger CBN oversight of fintechs, tougher action on ponzi schemes
CBN projects inflation to ease to 12.94% in 2026 on lower fuel, food prices
CBN orders banks to configure ATMs, POS terminals for foreign card transaction
Nigeria’s inflation eases to 15.1% in January — NBS
She explained that CBN is moving towards a more transparent system to ensure long-term price stability.
These efforts, she maintained, recently earned the CBN the “Central Bank of the Year 2026” award from a committee in London.
Hakama also mentioned a massive increase in the nation’s financial strength.
She said external reserves have grown from less than $10 billion to over $50 billion.
She said, “Our tight monetary policy has played a key role,” adding that the Bank aims to reach a single-digit inflation rate soon.
In response, the President of the Enugu Chamber of Commerce, Nnanyelugo Onyemelukwe, praised the CBN for sharing its policies with the public.
However, he warned that high interest rates make it difficult for businesses to borrow money.
He encouraged the CBN to bring rates down further to help local businesses stay productive.
