EMIR SANUSI CREDITS CBN REFORMS FOR NIGERIA’S ECONOMIC GROWTH
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By:Tajudeen Aminat
The Emir of Kano, Muhammadu Sanusi II, has commended the Central Bank of Nigeria (CBN) for its economic reforms, saying the country’s economy is now growing faster than its population for the first time.
Sanusi made the remarks in a viral video while speaking at the ongoing 31st Nigerian Economic Summit.
The former CBN governor said the apex bank had restored stability to the economy after years of macroeconomic instability driven by excessive money supply.
He praised the CBN’s monetary tightening measures, stating that the bank had successfully reduced the liquidity overhang inherited from previous policies.
“I have nothing but positive words for what the Central Bank has done. We are coming from a background of a very high level of instability as a result of loose money and uncontrolled growth in money supply. The Central Bank has taken one year to mop up all that money,” Sanusi said.
He added that the reforms had positioned the economy to outpace the country’s population growth.
“This is the first time that this economy will be growing faster than the population,” he stated.
Sanusi’s comments come after the CBN retained the Monetary Policy Rate (MPR) at 26.50 per cent for the second consecutive meeting as part of its efforts to rein in inflation, which stood at 15.91 per cent in June 2026.
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