Speaking at the session held on March 18, 2026, the CBN Deputy Governor in charge of Economic Policy, Dr Muhammad Abdullahi, said the shift to inflation targeting represents a major change in Nigeria’s monetary policy approach. He noted that inflation targeting would serve as a crucial nominal anchor for the Nigerian economy, adding that stabilising inflation expectations would help lower risk premia and support long-term investments. Looking ahead, the CBN said it is firmly on track to achieve low and stable inflation in the medium term. Earlier, the Director of the Monetary Policy Department, Dr Victor Oboh, said collaboration with the academic community is critical to improving monetary policy effectiveness. He noted that the success of inflation targeting depends not only on technical design but also on public trust and communication.

Source: Punch March 23, 2026 07:43 UTC