Central Bank of Nigeria (CBN) governor, Yomi Cardoso has made some revelations.

He said: “Thanks to the steps taken over the past 18 months by President Tinubu. We have strengthened our monetary buffers and positioned Nigeria to better withstand external shocks.”

“To all Nigerians: these reforms are not easy, but they are delivering results. We have moved from a position of vulnerability towards one of growing strength, and our economic trajectory is beginning to turn positive.”

For those who don’t know, Cardoso introduced FX code, the Electronic Foreign Exchange System (EFEMS), and recapitalization of the financial system, among other reforms.

Under Cardoso remain noteworthy, Nigeria’s inflation dropped to 23.18 percent in March, and the interest rate stood at 27.50 percent in February 2025 amidst the rising cost of living in Nigeria.