Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says ongoing economic reforms are designed to reinforce financial-system stability and stimulate national productivity.
Cardoso, represented by Hakama Sidi, acting director of corporate communications, spoke in Kano on Tuesday at the bank’s fair themed “Driving alternative payment channels as tools for financial inclusion, growth and accelerated economic development.”
Cardoso said the apex bank is deepening financial inclusion while sustaining monetary and price stability. He highlighted plans to enhance macroeconomic resilience through a banking-sector recapitalisation programme and foreign-exchange market reforms aimed at unifying exchange rates, improving transparency, and attracting foreign investment.
Other initiatives, he noted, include strengthening specialised financial institutions, introducing new regulatory frameworks, upgrading payment systems, and de-risking credit for key sectors such as housing, food, and healthcare to unlock growth and widen financial access.
The governor added that the Nigeria payments system vision 2028 (PSV 2028) and the unified complaints tracking system (UCTS) are central to the bank’s push for digital transformation and consumer protection. He also announced a dedicated USSD code (*959#) for verifying licensed institutions.
Cardoso urged Nigerians to use only the CBN’s official communication channels—its website (www.cbn.gov.ng) and verified social-media handles—and to respect the naira by avoiding spraying, hawking, mutilation, or counterfeiting.
Aliyu Abubakar, acting divisional head of other financial institutions at the CBN’s Kano office, stressed the global importance of microfinance banks for people excluded from traditional banking.
Salihu Umar, president of the Association of Mobile Money Operators of Nigeria, commended the CBN for hosting the fair, saying it showcases alternative payment solutions that can extend financial services to underserved communities and spur economic growth.
