Nigeria: CBN Policies Averted Economic Crisis, Says Deputy Governor

The Deputy Governor, Corporate Services, of the Central Bank of Nigeria (CBN), Emem Usoro, has credited the bank’s ongoing reforms with stabilising Nigeria’s economy and preventing a deeper crisis.

Usoro made the remarks while delivering her acceptance speech at the conferment of an honorary Doctor of Business Administration (honoris causa) at Akwa Ibom State University during its combined 9th to 12th convocation ceremonies held in Ikot Akpaden, Mkpat Enin Local Government Area.

She emphasised that a combination of policy interventions and institutional reforms had helped restore economic stability and reposition the country for sustainable growth.

“We have developed systems and implemented policies that brought the country back from economic challenges and are positioning the economy to better serve all segments of society,” she said.

According to Usoro, the alignment of monetary policy with the Federal Government’s fiscal reforms has contributed to improved exchange rate stability, stronger macroeconomic conditions, and a more inclusive growth trajectory.

She noted that the CBN remains focused on building a resilient economy capable of supporting long-term development and expanding opportunities across sectors.

Highlighting the role of human capital in economic transformation, Usoro urged graduating students to leverage their knowledge and skills to drive innovation and national development. She pointed to countries such as Singapore, Japan, and South Korea as examples of economies that achieved significant growth by investing in talent and innovation despite limited natural resources.

She encouraged graduates to remain curious, adaptable, and committed to continuous learning, stressing that their contributions would be critical to Nigeria’s future economic trajectory.

Usoro also announced that the apex bank would provide financial support to the university to enhance academic and research development, reinforcing its commitment to strengthening education and capacity building.

In addition, she called on female graduates to remain steadfast in pursuing their ambitions, urging them not to be constrained by societal or cultural limitations.

The ceremony saw a total of 6,779 undergraduate and 746 postgraduate students graduate during the period under review, marking a significant milestone for the institution.