The Senate has demanded a “comprehensive explanation” from the Central Bank of Nigeria over the alleged non-remittance of N1.44 trillion in operating surplus. Senator Adetokunbo Abiru said public trust depended on transparency, insisting that accountability must match economic progress. He noted improvements in foreign-exchange stability and inflation control but sought responses on CRR policy, FX forward settlements, mutilated notes, bank charges, failed transfers, and oversight of CBN subsidiaries.
CBN Governor Olayemi Cardoso presented Nigeria’s economic review, saying bold reforms had driven macroeconomic recovery, with GDP growth at 3.98 per cent in Q3 2025 and inflation dropping to 16.05 per cent. He said the exchange-rate gap had narrowed to less than 2 per cent, reserves rose to US$46.7bn, and remittances increased by 66.7 per cent. “This steady disinflation is restoring real purchasing power,” he stated, projecting a stronger 2026 outlook.