The Central Bank of Nigeria (CBN) has said it is closely monitoring banks to ensure strict compliance with the recapitalisation deadline. Acting Director of Corporate Communications at the CBN, Hakama Sidi Ali, disclosed this in Abuja over the weekend during the CBN Day at the ongoing Abuja International Trade Fair (AITF).
She explained that the theme of this year’s fair, “Sustainability: Consumption, Incentives, and Taxation,” aligns with the Bank’s strategy of diversifying Nigeria’s productive base, particularly by boosting the export of non-oil commodities.
According to her, the policy direction is consistent with the vision of CBN Governor, Olayemi Cardoso, to restore investor confidence, which she noted has been reflected in a surge of foreign investments.
“The management of the Central Bank of Nigeria, under the leadership of Mr. Olayemi Cardoso, is dedicated to addressing identified challenges of the Nigerian economy to boost productivity and strengthen the local economy against any adverse external shock,” she said.
Sidi Ali added that the Bank’s annual participation in the Trade Fair is part of its commitment to raise awareness and engage stakeholders on monetary policies and programmes that are critical for driving economic activities, inclusiveness, and global competitiveness.
