Senate panel questions CBN on inflation, bank recapitalisation, foreign reserves, other monetary policies
CBN Governor Olayemi Cardoso briefed the Nigerian Senate on the bank's progress in stabilizing inflation and foreign exchange markets during the first half of 2026. He highlighted a downward trend in inflation and successful reforms in banking sector recapitalization.
Why it matters
The CBN's monetary policy performance is critical to Nigeria's economic stability and investor confidence in the region.
The CBN Governor, Olayemi Cardoso, says in the first half of 2026, the bank witnessed further consolidation of the macroeconomic gains recorded in 2025 through coordinated policy actions implemented over the past three years.
Mr Cardoso stated this on Wednesday when he led a team from the bank to a meeting with the Senate Committee on Banking, Insurance and Other Financial Institutions.
The committee, chaired by Adetokunbo Abiru (APC, Lagos East), held the session in line with the CBN Act, which requires the CBN governor to brief the National Assembly twice a year.
It was the committee’s first statutory engagement with the apex bank in 2026.
It scrutinised the bank’s performance on inflation, bank recapitalisation, foreign reserves, foreign exchange management, and other monetary policies.
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