The Federal Government of Nigeria and the Central Bank of Nigeria have signed a historic pact to institutionalize coordination and improve macroeconomic management.
The Memorandum of Understanding (MOU) was finalized in Abuja by Finance Minister Taiwo Oyedele and CBN Governor Olayemi Cardoso.
The framework establishes structured protocols for data sharing, debt planning, and joint cash management.
“This memorandum provides a structured framework for regular consultation, information exchange and policy coordination,” Cardoso stated.
“Good economic management requires independent institutions, but independence does not mean isolation,” Oyedele added, emphasizing that the central bank’s statutory autonomy remains fully protected.
Officials stated the agreement aims to eliminate policy contradictions while supporting the apex bank’s transition to an inflation-targeting framework.
This reform arrives as authorities pursue single-digit inflation targets following a strong 2025 external surplus and rising foreign reserves exceeding $53 billion in August.
