The Central Bank of Nigeria has restated its resolve to boost economic productivity, expand financial inclusion, and maintain monetary and price stability, reaffirming its central role in safeguarding the country’s financial system.
Speaking at the 2025 CBN Fair held on Thursday at the International Convention Centre, Awka, the Acting Director of the Corporate Communications Department, Hakama Sidi Ali, said the outreach was designed to strengthen public understanding of CBN policies and promote responsible use of the Naira.
Ali said the fair’s theme, “Driving alternative payment channels as tools for financial inclusion, growth and accelerated economic development,” reflected the Bank’s ongoing reforms aimed at stabilising prices, improving liquidity, and deepening participation in the financial system.
She noted that recent indicators — including easing inflation, rising foreign reserves, and greater stability in the foreign exchange market — demonstrate the positive impact of the Bank’s policy measures.
According to her, “The Naira continues to strengthen, with the spread between official and Bureau de Change rates narrowing below two per cent. Nigeria’s foreign reserves stand above $43 billion, providing more than 11 months of forward import cover.”
She highlighted major reform initiatives undertaken in the past two years, including exchange-rate unification, bank recapitalisation, the introduction of non-resident BVN for Nigerians abroad, the BMatch foreign-exchange trading system, and the Nigeria Payments System Vision 2028.
Ali urged Nigerians to rely on verified CBN communication channels and preserve the dignity of the Naira, warning against spraying, mutilating, hawking, or counterfeiting the currency.
In his remarks, Akobundu Onwuchekwa, the Branch Controller of CBN Awka, described the fair as a timely engagement that strengthens financial literacy and improves policy feedback. He said the interaction would support more effective service delivery and accelerate economic development.
Onwuchekwa stated that the CBN’s branches play a crucial role in implementing financial inclusion initiatives at the grassroots, adding that the Awka branch remains committed to advancing Anambra’s economic aspirations through sustained stakeholder engagement and public sensitisation.
The event drew participants from government agencies, financial institutions, security organisations, farmers’ associations, traders’ unions, and the National Youth Service Corps. Attendees took part in interactive sessions covering financial literacy, payment systems, and proper handling of the Naira.
The Naira has faced significant pressure in recent years, driven by volatile oil revenues, inflation, and foreign-exchange shortages. Although CBN reforms have stabilised key indicators, authorities say widespread public understanding of monetary policies remains essential to strengthening confidence in the national currency.
