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The Nigeria Civil Aviation Authority (NCAA) has confirmed that Royal Air Maroc (RAM) has paid the hefty sanction fee imposed on it earlier this year for repeated breaches of consumer protection regulations.

The Moroccan flag carrier, singled out as the worst offender among foreign airlines operating in Nigeria, had been issued a fine following incessant reports of short-landed baggage and a repeated pattern of silence in the face of passenger complaints. While the airline has since improved its responsiveness to aggrieved customers, the NCAA disclosed that baggage-related issues continue to affect its operations, raising concerns about the carrier’s commitment to service quality.

In a virtual meeting convened recently, the NCAA sought to understand the underlying challenges facing Royal Air Maroc, but the regulator warned that its patience is running out. Officials hinted that more sanctions could follow if the airline fails to urgently resolve the recurring baggage lapses. ‘Business dictates a change of strategy when current methods are not delivering results’.

The authority advised the airline to rethink its approach to baggage management if it wishes to maintain credibility with Nigerian travellers.

Some of Nigeria’s most respected voices in religion, politics, and academia have thrown their weight behind a new book, Beneath the Surface, written by Dakuku Peterside. The book, which brings together essays and policy writings, has been praised as a powerful contribution to Nigeria’s search for good governance, national growth, and democratic stability. Those who endorsed the work include Catholic Bishop Matthew Kukah, former Ekiti State Governor Dr. Kayode Fayemi, Professor Anya O. Anya, and Professor Kyari Mohammed. Their combined reputations cover decades of leadership in the church, government, science, history, and nation-building, giving the book a strong vote of confidence.

The four leaders are not just ordinary commentators. Bishop Kukah is known worldwide for speaking truth to power and defending democracy. Fayemi, besides serving as governor, is a respected scholar of war studies. Prof. Anya has led top scientific and economic institutions in Nigeria, while Prof. Mohammed is a renowned historian and former vice-chancellor of two universities. For such seasoned figures to unite in praising one book signals that Beneath the Surface is more than just another publication. It is being recognized as a roadmap for Nigeria’s future.

Bishop Kukah, who has authored books on politics, religion, and social responsibility, described Peterside’s work as a refreshing collection. In his words, the book is ‘a salad plate of exquisite writing’ that combines deep thought with engaging storytelling. He noted that it opens a new window for Nigerians to think about fresh options for the country’s progress. Kukah’s endorsement matters because he has long been a moral voice in Nigeria’s public life. His description of the book as ‘exciting and alluring’ suggests that readers will not only gain insights but also enjoy the writing style.

For Fayemi, who governed Ekiti State and also served as Minister of Solid Minerals, Peterside represents a rare blend of politician and intellectual. He said Peterside’s essays revive the tradition of leaders who think deeply about society rather than simply chasing power. According to Fayemi, the book highlights Nigeria’s weaknesses but also shows the ‘immense possibilities of building a nation where justice and peace prevail.’ He called it ‘a must-read,’ especially for anyone hoping to understand the roots of Nigeria’s challenges. Professor Anya, who once led the Nigerian Academy of Science and co-founded the Nigerian Economic Summit Group, praised the book for being both insightful and easy to read. He said Peterside’s wide experience in public service gives the essays a unique authority. At the same time, he noted that the book raises a painful but necessary question: why does Nigeria, despite having abundant talent and resources, continue to underperform? For Anya, the book does not just criticize-it pushes readers to reflect on the gap between Nigeria’s potential and its reality.

Mohammed, a respected historian and former university leader, described ‘Beneath the Surface’ as a ‘comprehensive exploration’ of Nigeria’s politics and society. He emphasized that Peterside avoids the trap of endless lamentation. Instead, the essays point out practical ways forward, offering guidance for policymakers, academics, and ordinary citizens. He concluded that the book is essential reading for anyone serious about Nigeria’s future.

At the heart of Beneath the Surface is Peterside’s attempt to answer why Nigeria struggles with governance, despite its human and natural wealth. The book compiles his most powerful essays, blending analysis with relatable storytelling. The themes span across politics, governance, economy, and social life. Peterside does not just point out problems but also suggests reforms. He stresses accountability, stronger institutions, and investment in human development as keys to unlocking Nigeria’s progress. By writing in a style that balances intellectual depth with clarity, Peterside makes the book accessible to different audiences: government officials, business leaders, students, scholars, and ordinary Nigerians curious about the forces shaping their nation.

Nigeria is at a critical point in its democratic journey. With rising economic pressures, security threats, and governance gaps, many citizens feel frustrated about the direction of the country. Books like Beneath the Surface tap into this frustration but also offer hope by laying out practical ideas for change. The endorsements from Kukah, Fayemi, Anya, and Mohammed show that the book is striking the right chords. Coming from leaders who have themselves faced Nigeria’s challenges firsthand, their praise gives weight to the argument that Peterside’s work deserves national attention.

JAC Motors, a leading Chinese truck manufacturer, has urged the federal government to fast-track the signing of Nigeria’s automotive policy into law, describing it as a critical move that will unlock foreign investments, deepen local assembly operations, and reduce reliance on imported used vehicles.

The call was made by Oscar Yu, general manager, JAC Motors, during a strategic visit to Lanre Shittu Motors’ JAC truck assembly plant located along the Apapa-Oshodi Expressway in Lagos.

Describing Lanre Shittu Motors (LSM) as a great partner, Yu praised the company’s efforts in assembling JAC trucks locally, amidst Nigeria’s economic challenges.

He stressed that a properly legislated automotive policy would attract more Original Equipment Manufacturers (OEMs) into the country, enabling the production of affordable, brand-new trucks with better return on investment for buyers. ‘We are ready to work closely with the Nigerian government to grow the automotive sector. Signing the policy into law will help stabilise investors’ confidence and encourage more local assembly,’ Yu said.

He also highlighted the potential of Nigeria’s vast market of over 200 million people, noting that with the right policy environment, JAC could help bridge the gap between the dominance of used vehicles and the availability of affordable, high-quality new trucks.

Yu noted that continued importation of used vehicles hurts the economy by limiting job creation and undermining local production capacity.

‘Nigeria is a huge market with great potential. With local technical talent and a supportive government policy, the country can become a hub for truck manufacturing in West Africa,’ he added. On the partnership with Lanre Shittu Motors, Yu expressed satisfaction with the progress so far, pledging continued support in areas such as technical training, spare parts supply, and after-sales service.

‘We take care of our partners, customers, and staff. Our products are of high quality, and we believe that’s our biggest selling point. We’re happy with what LSM has done and are fully committed to growing this partnership,’ he affirmed. LSM recently commenced delivery of Compressed Natural Gas (CNG)-powered JAC trucks equipped with ABS (Anti-lock Braking System), among others, for maximum safety features.

Taiwo Shittu, managing director of Lanre Shittu Motors, in his remarks, described JAC as an exceptional partner.

‘JAC is the most supportive company we’ve worked with. They are sincere, respectful, and always deliver on their promises. They value our culture and treat us as true partners,’ he said.

Saheed Shittu, executive director of finance at LSM, called the visit by JAC’s top management historic and strategic, noting that it would further cement the relationship between both companies.

Lanre Shittu Motors assembles JAC heavy-duty and medium-duty trucks in Nigeria and has consistently won awards for its quality by the Nigeria Auto Journalists Awards.

‘We remain committed to providing customers with reliable automotive products, backed by strong after-sales service and genuine parts. This partnership is helping us achieve that,’ Saheed said.

The Chartered Institute of Management Accountants (CIMA), has awarded 235 accounting and finance professionals in Nigeria with their Chartered Global Management Accountant (CGMA) certificates, and their CGMA designation at its 2025 convocation ceremony. The convocation ceremony held in Lagos at the weekend.

Acclaimed as the world’s leading and largest professional body of management accountants, CIMA training, which is recognised in over 170 countries, equips candidates with skills such as accounting knowledge, risk management, business leadership, decision-making, performance evaluation, and financial analysis that prepare them for senior management roles.

The 235 candidates will also benefit from the large global community of CGMA holders, granting them access to a global network of business and finance leaders as well as providing them with career support and continuous professional development.

Tariro Mutizwa, vice president – Africa, who was present at the certification ceremony, commended the candidates for their hard work, dedication and commitment to acquire the knowledge and skills necessary to achieve their CGMA. She assured them that the certification has paved the way for promising careers as they have been equipped to meet not only today’s business demands but also future business needs.

‘I am pleased to welcome a new generation of Nigerian accounting and finance professionals into our esteemed profession in Nigeria. Their dedication, hard work, and unrelenting commitment have paved the way for promising careers built on a solid foundation of knowledge and skill,’ Mutizwa said. ‘These future leaders are equipped not only to meet the demands of today’s business landscape but to shape what comes next, driving innovation, integrity, and excellence across their organisations. May their journey be marked by continuous growth, meaningful impact, and enduring success.’ Ijeoma Anadozie, country director of CIMA in Nigeria, was also full of praises for the candidates. The country director said the certification has positioned the candidates to seize a world of exciting professional opportunities.

‘Completing the CGMA Professional Qualification is a testament to our CGMA candidates’ commitment and passion. I extend my heartfelt congratulations to each of our Nigerian CGMA candidates on this outstanding achievement,’ Anadozie said.

According to the country director, ‘Earning the CGMA designation signifies that they are not only highly skilled and commercially astute, but also purpose-driven professionals who champion sustainable business performance and long-term value creation – positioning them to seize a world of exciting professional opportunities.’

Holders of CGMA can function across a broad spectrum of units in organisations as Risk Managers, Financial Analysts, Strategy Consultants, and Management Accounts, among other critical accounting and auditing roles.

Nigerian Exchange Group (NGX Group) has reinforced its role as a trusted catalyst for market development by convening a high-level stakeholder dialogue on the Capital Gains Tax (CGT) provisions within the Tax Reform Act 2024, set to take effect in January 2026.

The virtual forum brought together issuers, investors, intermediaries, and regulators in a constructive exchange aimed at deepening understanding of the new tax regime while ensuring that market competitiveness remains a priority. The dialogue provided critical clarity on key provisions and created an avenue for stakeholders to share perspectives that will help shape implementation.

Speaking on the importance of resilience and investor confidence, Temi Popoola, GMD/CEO of NGX Group, noted: ‘Reforms of this scale raise important questions for issuers and investors alike. Our priority is to ensure the capital market remains attractive and forward-looking. By creating forums like this, we provide clarity, enable dialogue, and help the market adapt to fiscal changes in ways that support long-term growth.’ A key focus of the dialogue was the introduction of a 30 percent tax rate on gains from the disposal of shares-aligned with Nigeria’s corporate income tax. Participants emphasized the importance of ensuring Nigeria’s competitiveness compared with other African markets. Other issues raised included the determination of base cost, with recommendations for prospective calculation from the Act’s effective date, and the treatment of cross-listed securities, flagged as an area requiring careful guidance to avoid compliance complexity and double taxation.

Providing further clarity, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, explained that the reform is structured to protect retail investors, with a N150 million annual exemption threshold that places 99.9 percent of individual investors outside the scope of CGT. He added that while the standard rate is 30 percent, a reduced 25 percent CGT will apply when proceeds from share sales are reinvested in fixed income securities or other non-equity assets, whereas reinvestments into Nigerian companies – whether listed or unlisted – remain exempt. This, he emphasized, is designed to channel more capital into productive equity that drives growth, jobs, and long-term market sustainability.

Umaru Kwairanga, Chairman of NGX Group, highlighted the importance of NGX’s convening power: ‘At NGX Group, we believe that significant policy shifts must be clearly understood and calibrated to preserve market confidence. Our core function is to facilitate this essential engagement between policymakers and the market to ensure reforms translate into sustainable, long-term economic growth.’

Participants widely acknowledged the forum as timely and constructive, with NGX Group once again demonstrating leadership as a convener of solutions-driven dialogue. By facilitating this engagement, NGX Group has strengthened its position as an indispensable bridge between government and industry, ensuring that tax reforms are implemented in a manner that safeguards market vitality while supporting Nigeria’s broader economic goals.

Yakubu Dogara, former speaker of the Federal Republic of Nigeria has called on the governors of the 19 States in the Northern region of Nigeria to take lead in driving development in the region.

Dogara made this call during the 2025 Northern Nigeria Investment and Industrialisation Summit held in Abuja on Tuesday.

He emphasised that the State governors must be committed to addressing insecurity in their states and region at large, adding that all plans and strategies will fail in the midst of insecurity.

Dogara also stressed the effective management of public funds available to State government. Also speaking at the event, Bukola Saraki, former Senate President reiterated the need for the State governors to come together to share resources to drive one common objective in the region.

He said there was need for incentives to attract investments into the region, adding governors must begin to think outside the box.

‘Is there any special incentive I get for going to set up in those states in the north as opposed to setting up in Lagos? Zero. So why do we think an investor would take that risk, that investment and go and set up? That’s why I’m saying that we have to have an holistic approach to this.

‘By the end of the day, even if you put a super governor in those states today, you will not see those investments. But to do that, as I said, we must have a plan based on what is our objective. If we say, by this year, we want a cement production, then we begin to look at what are those things that we need to do. What’s the role of the governor? What’s the role of national government? What is the role of the businessman? And then bring them together.’

He also noted the prevalence of insecurity in the region, which he said is also a hindrance to attracting investments, except there are incentives.

Veritasi Homes and Properties Plc, one of Africa’s fastest-growing real estate firms, and Cooperative Investment and Thrift Society Limited (COOPLAG), on Saturday, held the official groundbreaking of Allied Towers, a luxury residential development in Ikoyi, Lagos.

The project is part of a multi-million dollar partnership deal between Veritasi Homes and COOPLAG.

The 11-floor project, sitting on a 1,431 sqm prime plot on McGregor Street, will feature 26 luxury apartments and penthouses designed to redefine urban living in one of Lagos’ most prestigious neighborhoods.

Bordered by Ikoyi Golf Club, Microsoft Head Office and the new U.S. Consulate General, Allied Towers blends cutting-edge architecture with premium amenities.

According to the real estate firm, residents will enjoy premium amenities, including a gym, relaxation area, dedicated recreational floor, landscaped grounds and secure parking for residents.

Speaking at the event, Nola Adetola, chief executive officer of Veritasi Homes and Properties Plc, described the project as a bold new chapter in Lagos’ skyline.

‘Today, as we break ground on Allied Towers, we are declaring possibility and our determination to do something meaningful with it. Together with COOPLAG, we begin a new chapter in Lagos’ skyline, in Nigeria’s housing story, and in Veritasi’s journey.’

Reflecting on Veritasi’s journey, Adetola added ‘Eight years ago, we looked at Nigeria’s real estate market and asked: Can we do better? That question gave birth to Veritasi Homes.

‘Guided by integrity, innovation, and customer-centricity, we began in 2017 with a small team and a big vision: to create developments that deliver value as reliably as they deliver shelter.

‘We envision a Veritasi that spans continents, a brand so trusted that wherever you see ‘Veritasi,’ you expect quality, innovation, and integrity. COOPLAG, we are honored to have you walk this journey with us. To our investors and future homeowners, this is your opportunity to own a share of Lagos,’ he said.

In his words, Mr. Francis Adeoye, president of COOPLAG, underscored the significance of the project and the vision behind it.

According to him ‘Today, we are not just breaking ground, we are breaking barriers. We are laying the foundation for a future where cooperative strength meets architectural excellence, where innovation meets legacy, and where our members and stakeholders can aspire to live in spaces that reflect their values, ambitions, and achievements. ‘This is the realization of a shared dream, a dream to redefine urban living and empower our members.

‘For over three decades, our society, COOPLAG, has stood as a beacon of cooperative strength, financial empowerment, and community development.

‘Allied Towers, situated in the heart of Ikoyi, is more than a luxury high-rise. It is a symbol of what is possible when two visionary organizations come together with a shared commitment to quality, sustainability, and community.

‘I want to express our profound appreciation to Veritasi Homes, led by the dynamic Mr. Nola Adetola, for their partnership, professionalism, and shared vision. Veritasi’s reputation for delivering premium developments and driving innovation in Nigeria’s real estate sector makes them the ideal partner for this ambitious endeavour.

‘Together, we are responding to the evolving needs of our members and the market. We are creating homes that offer security, prestige, and value. Homes that will stand the test of time and serve as a legacy for generations to come,’ he noted.

In his remarks, Tobi Yusuff, partner at Veritasi Homes, highlighted the groundbreaking as a reflection of Veritasi’s growth journey and its ability to earn the confidence of institutional partners like COOPLAG.

The development is being supported by a consortium of leading financial institutions, including Nova Bank, Providus Bank, Lotus Bank, Stanbic IBTC, Sterling Bank, and FirstBank. Managing directors and senior officials of these banks, who attended the event, pledged their full support, affirming the project’s significance for Nigeria’s housing and investment landscape.

Subscribers and prospective homeowners also praised the project, reiterating their confidence in Veritasi Homes and COOPLAG to deliver Allied Towers as promised, both on time and to the highest standard of excellence.

Temitope Runsewe, Chief Executive Officer of Dutum Construction, whose firm serves as the project’s construction partner, stressed that safety and engineering excellence will guide every stage of Allied Towers.

Veritasi Homes has continued to set the pace in Africa’s real estate sector through its innovative and value-driven approach.

Recognised by the Financial Times as one of the continent’s fastest-growing businesses, Veritasi remains the only Nigerian real estate firm to earn a place on the prestigious list.

In just seven years, the company has delivered over 1,000 homes, launched 12 landmark projects across Lagos and Abuja-including the celebrated Camberwall Advantage series-and served more than 2,500 clients, many from the diaspora. The company also holds double ratings from DataPro and GCR, a milestone that highlights its credibility, financial strength, and unwavering commitment to delivering world-class properties.

Leading smartphone brand, Infinix, has once again proven its dominance in the Nigerian mobile market by clinching two prestigious honors at the 2025 Edge Awards, organized by Marketing Edge and held on Friday, September 26, at the Balmoral Event Centre in Lagos. The brand won the awards for Outstanding Smartphone Launch of the Year for its Hot 60 Series, and Innovative Smartphone Brand of the Year for its Note 50 Series.

These recognitions highlight Infinix’s continued commitment to delivering cutting-edge technology, stylish design, and user-focused innovation in the Nigerian market.

Speaking on the awards, Oluwayemisi Ode, Integrated Marketing Communications and PR Manager at Infinix Nigeria, expressed gratitude to customers and stakeholders for their continued trust and support for the brand. ‘This double win is a testament to the work we put into understanding our consumers and delivering devices that not only meet but exceed their expectations. At Infinix, we believe technology should be empowering, stylish, and accessible, and these awards reinforce our commitment to that mission”. Speaking on the Marketing Edge Awards, John Ajayi, CEO and Founder, Marketing Edge Group and Edge Awards, highlighted that the award ceremony serves as a way to celebrate achievement of others and a reminder that hard work, service and innovation are rewarded. ‘As brands, agencies and personalities navigate the complexities of the Nigerian market, balancing traditional values with cutting-edge technology, this year’s EDGE AWARDS offers a prestigious platform to celebrate those who have pushed the limits of creativity and innovation with insight-driven initiatives’ he stated.

These recent awards strengthen Infinix’s position as a trailblazer in Nigeria’s highly competitive smartphone industry and a testament to its reputation as a brand that is committed to consistently delivering cutting-edge smart devices, and continues to push the boundaries of what mid-range smartphones can deliver.

Precious Aroh, a Nigerian student, has brought global recognition to Nigeria by being named ‘Best Finalist’ in the 18th Toyota Dream Car Art Contest.

Aroh was selected from a staggering pool of over 660,000 contestants worldwide and was awarded a prize of $3,000 from Toyota Motor Corporation.

She named her artwork, ‘Virus Vacuum,’ describing it as a powerful concept car designed to create a healthier world.

‘My dream car is called ‘Virus Vacuum’, the dream car of clean air. It has special suction vents on top that pull harmful viruses out of the air. Once inside the car, the viruses are destroyed, leaving clean, safe, and fresh air for people to breathe.

‘The car is my dream for a healthier world, a car that not only carries people but also cares for people and heals the environment,’ Aroh said.

Kunle Ade-Ojo, managing director of Toyota Nigeria Limited (TNL), praised the young artist’s ingenuity, saying, ‘Precious’s exceptional artistry and vision have once again placed Nigeria on a global stage.

‘Her winning masterpiece is a powerful concept that imagines a world free of illness and viruses like Covid-19. ‘She has shown profound empathy and a brilliant imagination, turning a compelling idea into an outstanding creation. She has made Nigeria, Toyota Nigeria Limited, and her school incredibly proud,’ Ade-Ojo said.

The award was presented to Precious, her parents, and school representatives in Lagos by Ade-Ojo.

This achievement marks a significant milestone for Nigeria, Toyota Nigeria Ltd, and Corona School.

He noted that her success echoes the historic win two years ago by Oluwademilade David Odumuboni, who became the first Nigerian to win a global grand prize in the same competition.

‘It is a remarkable coincidence and a testament to the nurturing environment of both of these golden talents who hail from the same school,’ Ade-Ojo said, noting that Aroh will use the $3,000 prize money, which is designated for educational pursuits, to buy books, art materials, and digital learning tools that will help her improve her creativity and knowledge.

‘In addition to the prize money, Precious received a commemorative shield from Toyota Motor Corporation, along with a certificate and a trophy from Toyota Nigeria Limited.

He also extended heartfelt congratulations to her art teacher and parents, Mr. and Mrs. Aroh, acknowledging their unwavering support and encouragement.

The Toyota Dream Car Art Contest is a global Corporate Social Responsibility initiative by Toyota Motor Corporation, aimed at inspiring children to imagine a future car and, in doing so, foster a creative and caring mindset towards the planet.

Funds belonging to non-Treasury Single Account (non-TSA) public sector accounts remain safe and fully accessible at commercial banks, according to the Central Bank of Nigeria (CBN).

The apex bank explained in a Post-MPC Frequently Asked Questions (FAQs) publication on its website that commercial banks have in-built mechanisms for managing liquidity and meeting the legitimate obligations of all customers, including owners of these accounts.

It further noted that the CBN also provides short-term lending support to banks as a lender of last resort, enabling them to square up positions when necessary through the Standing Lending Facility.

At its last Monetary Policy Committee (MPC) meeting held last week, the CBN introduced a 75 percent Cash Reserve Requirement (CRR) on non-TSA public sector deposits. This measure was aimed at addressing the build-up of excess liquidity in the banking system, largely arising from increased injections into this category of accounts. The bank explained that the new CRR would ensure that public sector deposits outside the Treasury Single Account do not contribute to inflationary pressures that could undermine the ongoing disinflation momentum. On the decision to reduce the Monetary Policy Rate (MPR) to 27.00 percent, the CBN said the MPC lowered the rate by 50 basis points in response to the sustained decline in inflation over the past five months and in anticipation of further moderation for the rest of 2025. The reduction, it added, is expected to support government efforts at economic recovery without undermining macroeconomic stability.

The bank also clarified the rationale for adjusting the Standing Facilities Corridor to +250/-250 basis points. Standing facilities, it explained, are monetary policy instruments that help the CBN either provide or mop up overnight liquidity in the banking system. They comprise the Standing Lending Facility (SLF), which allows banks to borrow liquidity overnight at the SLF rate, and the Standing Deposit Facility (SDF), which allows banks to deposit excess liquidity overnight with the CBN at the SDF rate. The corridor was revised from +500/-100 basis points to +250/-250 around the MPR, creating a symmetric corridor instead of the previous asymmetric one. The adjustment, according to the bank, is intended to reduce volatility in overnight interest rates, improve interbank market efficiency, deepen liquidity management, encourage more active interbank trading, and enhance monetary policy transmission.

On the reduction of the CRR for commercial banks to 45 percent, the CBN explained that Cash Reserve Requirements are statutory obligations for banks to keep a specified percentage of their deposits with the apex bank, serving both prudential and liquidity management purposes. A higher CRR reduces the funds available for banks to create credit, while a lower CRR has the opposite effect. The recent cut, the MPC said, was intended to ease liquidity pressure on commercial banks, giving them more room for productive lending and intermediation while still maintaining sufficient sterilisation to guard against inflation. Responding to a question on inflation, the CBN said its tightening measures, combined with federal government interventions, have contributed to a substantial decline in headline inflation, which fell to 20.12 percent in August 2025 from 21.88 percent in July. This represents the fifth consecutive month of deceleration. The 1.76 percentage point decline recorded in August was the sharpest pace of price moderation in five months. Both food and core inflation eased, largely due to sustained exchange rate stability, a surplus current account balance, moderation in petrol prices, and monetary policy tightening. Experts project that inflation will continue to ease through the remainder of 2025, supported by exchange rate stability, tight monetary policy, and the onset of the harvest season.

On how the bank balances inflation control with credit to the real sector and micro, small and medium enterprises (MSMEs), the CBN said it relies on conventional monetary policy tools, such as interest rate hikes, to anchor inflation expectations and avoid distortions in the credit market. By maintaining a stable and robust financial system, financial institutions are better positioned to allocate surplus funds efficiently to deficit areas of the economy.

The CBN also reassured that Nigeria’s external reserves remain strong and a source of confidence for citizens, investors, and other economic actors. As of September 11, 2025, gross external reserves stood at $43.05 billion, providing 8.28 months of import cover.