{"id":163401,"date":"2025-05-21T06:06:46","date_gmt":"2025-05-21T05:06:46","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso"},"modified":"2025-05-21T07:11:03","modified_gmt":"2025-05-21T06:11:03","slug":"cbn-why-naira-is-stable-more-competitive-payment-system-cardoso","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso","title":{"rendered":"CBN: Why Naira is stable, more competitive payment system \u2013 Cardoso"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has explained that the country\u2019s currency, the naira, is a stable, reliable, and more competitive payment system for trade across the West Africa region.<\/p>\n<p>He disclosed this in a press conference on Tuesday after the Monetary Policy Committee\u2019s 300th meeting in Abuja.<\/p>\n<p>According to him, the apex bank\u2019s reforms in the last 18 months have fueled and sustained naira stability, which stood at N1,598.68 per dollar at the official foreign exchange market as of Tuesday.<\/p>\n<p>Cardoso urged that the naira\u2019s competitiveness in transnational trade would continue to encourage exports.<\/p>\n<p>\u201cOur currency is now more competitive, and with a safe and reliable payments system, trade across the region can flourish without the usual risks.<\/p>\n<p>\u201cThis should encourage more exports if we continue in the trajectory. I am very optimistic,\u201d he stated.<\/p>\n<p>He added that, \u201cGiven the relative stability in the foreign exchange market, members urge the bank to sustain the implementation of the ongoing reforms to further boost the economy.\u201d<\/p>\n<p>Recall that the MPC decided to retain the country\u2019s interest rate at 27.50 percent amid inflation decline.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has explained that the country\u2019s currency, the naira, is a stable, reliable, and more competitive payment system for trade across the West Africa region. He disclosed this in a press conference on Tuesday after the Monetary Policy Committee\u2019s 300th meeting in Abuja. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":163400,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[11494,503,1623,254],"class_list":["post-163401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cardoso","tag-cbn","tag-naira","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBN: Why Naira is stable, more competitive payment system \u2013 Cardoso - Nigeria<\/title>\n<meta name=\"description\" content=\"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has explained that the country\u2019s currency, the naira, is a ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN: Why Naira is stable, more competitive payment system \u2013 Cardoso\" \/>\n<meta property=\"og:description\" content=\"The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has explained that the country\u2019s currency, the naira, is a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-21T05:06:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-21T06:11:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/05\/sm_1747795292.705966.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"1400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBN: Why Naira is stable, more competitive payment system \u2013 Cardoso\",\"datePublished\":\"2025-05-21T05:06:46+00:00\",\"dateModified\":\"2025-05-21T06:11:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso\"},\"wordCount\":211,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/05\/sm_1747795292.705966.jpg\",\"keywords\":[\"Cardoso\",\"CBN\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-why-naira-is-stable-more-competitive-payment-system-cardoso\",\"name\":\"CBN: Why Naira is stable, more competitive payment system \u2013 Cardoso - 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