The Central Bank of Nigeria (CBN) has urged state governors to support its ongoing monetary policy reforms aimed at stabilising the economy, curbing inflation, and restoring investor confidence.
The call was made during a presentation at the Nigeria Governors’ Forum (NGF) meeting held Thursday in Abuja.
According to a communiqué issued after the meeting, CBN Governor Olayemi Cardoso, represented by Deputy Governor (Economic Policy) Dr. Muhammad Sani Abdullahi, briefed the governors on the apex bank’s current stabilisation measures. These include tightening monetary policy, unifying exchange rate windows, and recapitalising banks to strengthen the naira and restore price stability.
The governors commended the CBN for aligning its policies with fiscal authorities, emphasising that continued cooperation between the federal and state governments is critical to achieving sustainable growth and fiscal discipline at subnational levels.
The Forum also received a security briefing from DSS Director-General Adeola Ajayi, who outlined ongoing intelligence operations addressing violent extremism, communal tensions, and security challenges linked to economic hardship and political transition.
Governors expressed appreciation for the DSS’s proactive efforts and pledged to enhance intelligence sharing and collaboration with federal security agencies to maintain peace across the country.
The communiqué further noted that the Reserved Seats for Women Bill (HB 1349) will be voted on between November 4 and 6, 2025. The Bill seeks to amend the 1999 Constitution to create dedicated constituencies for women in both the National and State Assemblies, as a temporary measure to boost female representation in governance.
The Forum urged governors to rally support for the Bill among lawmakers, describing it as a vital step toward equity, fair representation, and inclusive governance.
“Nigeria’s progress depends on policies that combine economic reform with social inclusion,” the Forum stated.
