CBN SEEKS GOVERNORS’ BACKING FOR ONGOING MONETARY REFORMS
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Agency Report
The Central Bank of Nigeria (CBN) has appealed to state governors across the country to support its ongoing monetary policy reforms aimed at restoring macroeconomic stability and rebuilding investor confidence in the Nigerian economy.
This was contained in a communiqué issued at the end of the Nigeria Governors’ Forum (NGF) meeting held on Thursday in Abuja.
According to the communiqué, the Forum received a presentation from the CBN Governor, represented by the Deputy Governor (Economic Policy), Dr. Muhammad Sani Abdullahi, who briefed the governors on stabilization measures designed to curb inflation, strengthen the naira, and improve liquidity management.
Dr. Abdullahi explained that the Bank’s reform agenda includes the tightening of monetary policy, unification of exchange rate windows, and the recapitalisation of banks all geared towards restoring price stability and boosting confidence in the financial system.
The governors, while commending the CBN for its coordination with fiscal authorities, emphasized the need for sustained collaboration between the federal and state governments to safeguard economic growth and ensure fiscal sustainability.
The communiqué further disclosed that the Forum received a separate briefing from the Director-General of the Department of State Services (DSS), Mr. Adeola Ajayi, on emerging national security threats and ongoing intelligence-led operations.
Discussions focused on countering violent extremism, managing inter-communal tensions, and addressing security challenges linked to economic hardship and the ongoing political transition.
Governors expressed appreciation to the DSS for its proactive engagement and pledged to deepen intelligence sharing and cooperation with federal security agencies to strengthen peace and stability nationwide.
In addition, the NGF noted that the Reserved Seats for Women Bill (HB 1349) is slated for voting between November 4 and 6, 2025. The Bill seeks to amend the 1999 Constitution to create special constituencies exclusively contested by women in both the National and State Houses of Assembly — a temporary measure to promote gender inclusion in governance.
The Forum urged governors to engage their Senators, Members of the House of Representatives, and State Assemblies to support the Bill’s passage, reaffirming Nigeria’s commitment to equity, fair representation, and inclusive governance.
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