FRI MAR 27 2026-theGBJournal| At the 2026 Monetary Policy Forum in Abuja, Olayemi Cardoso underscored that macroeconomic stability in Nigeria must be a collective effort, driven by close coordination between fiscal authorities, financial institutions, and the private sector.
He stressed that recent policy gains are the result of deliberate alignment across key stakeholders, marking a shift toward a more disciplined and resilient economic framework.
Highlighting progress, Cardoso revealed that 32 banks have already met the new recapitalisation requirements ahead of the March 31 deadline, reinforcing confidence in the banking sector.
He added that inflation is on a downward trajectory, reflecting the impact of consistent, data-driven monetary policy, while reforms in the foreign exchange market have boosted investor confidence—evidenced by the clearance of verified FX backlogs and a narrowing parallel market premium to below 2%.
Further strengthening the outlook, diaspora remittances have surged from $200 million to $600 million monthly, with ambitions to reach $1 billion by the end of 2026.
Fiscal discipline has also improved significantly, as Ways and Means advances declined sharply from N26.95 trillion in 2023 to N2.84 trillion in 2026.
Echoing this sentiment, Finance Minister Wale Edun commended the enhanced fiscal-monetary coordination, noting it as a critical anchor for sustaining growth and consolidating recent economic gains.
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