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The Central Bank of Nigeria (CBN) has reaffirmed the resilience and stability of the nation’s banking system despite prevailing economic challenges, underscoring that most financial soundness indicators remain within regulatory thresholds.
Speaking at the CBN Special Day during the 20th Abuja International Trade Fair, the Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali — represented by Mr. Ibrahim Abbas, Head of the Communication Management and Strategy Division — said the apex bank continues to implement policies aimed at safeguarding financial stability and strengthening the economy.
According to her, Nigeria’s banking sector remains robust, with banks making steady progress toward meeting the recapitalisation targets set by the regulator. “As recently disclosed by the CBN Governor, fourteen banks have met their recapitalisation requirements. The Bank is also closely monitoring the remaining banks to ensure the successful completion of the exercise,” she stated.
Sidi-Ali emphasised that the sustainability of the Nigerian economy rests on a sound financial system, a stable foreign exchange market, and close coordination between monetary and fiscal authorities. She highlighted that the CBN’s policy measures are already yielding positive outcomes, citing the rise in the country’s external reserves from $40.51 billion at the end of July to $43.05 billion as of September 11, 2025.
She also pointed to ongoing reforms aimed at diversifying the economy through non-oil exports, enhancing investor confidence, and expanding the digital payments landscape. The CBN’s Payments Systems Vision 2028, she noted, seeks to deepen financial inclusion, enhance transaction security, and boost efficiency within the payments ecosystem.
Addressing the audience, Sidi-Ali urged Nigerians to value and protect the naira, describing it as a “vital symbol of national identity.” She said, “While the Central Bank of Nigeria will continue its efforts to ensure the availability of clean currency notes, we urge you to see the naira as our pride. Do not spray, hawk, mutilate, or counterfeit it. Our naira, our pride.”
She further assured stakeholders of the Bank’s continued commitment to consumer protection, microfinance development, and innovation in the payment systems sector.
In his remarks, the President of the Abuja Chamber of Commerce and Industry (ACCI), Dr. Emeka Obegolu — represented by the Chamber’s Director-General, Mr. Agabaidu Jideani — commended the CBN for its consistent support to the private sector. He noted that the apex bank’s interventions in credit access, foreign exchange management, and financial inclusion have been vital in sustaining business operations, particularly among micro, small, and medium enterprises (MSMEs).
Obegolu also highlighted key regulatory advancements in 2025, including the rollout of the Open Banking Framework, the expansion of contactless payment systems, and the establishment of a regulatory sandbox for fintech innovation. According to him, these initiatives have improved access to finance, strengthened payment infrastructure, and enhanced transparency in the foreign exchange market.
He further applauded the CBN’s sectoral interventions in agriculture, housing, healthcare, and education, noting that such efforts are reducing barriers to doing business and attracting private investments. The Chamber called for deeper collaboration between the CBN and the organised private sector to drive inclusive and sustainable economic growth.
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