The Central Bank of Nigeria (CBN) and the Federal Ministry of Finance have formalised a new framework for closer fiscal and monetary policy coordination as the Federal Government intensifies efforts to strengthen macroeconomic stability.
The two institutions signed a Memorandum of Understanding (MoU) on Fiscal-Monetary Policy Coordination, providing a structured platform for information sharing and policy alignment on inflation, economic growth, government revenue, liquidity, public financing and exchange rate management.
The agreement is expected to improve coordination between fiscal and monetary authorities while preserving the operational independence of the CBN.
CBN Governor, Olayemi Cardoso, said the framework would reinforce the institutions’ shared responsibility for promoting macroeconomic stability and building a more resilient Nigerian economy.
“Today’s signing strengthens an enduring partnership and reinforces our shared commitment to work together in the national interest,” Cardoso said.
He added that closer collaboration would help create an economic environment capable of supporting greater opportunities for Nigerians.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stressed the importance of institutions rather than individuals in sustaining economic reforms.
“Strong economies are not built around strong personalities. They are built around strong institutions,” Oyedele said.
The MoU is expected to strengthen policy consistency, improve economic management and support efforts to achieve price stability, sustainable growth, financial system resilience and stronger investor confidence.
The development comes as Nigeria continues to implement fiscal and monetary reforms aimed at addressing inflationary pressures, improving public finances and creating a more stable environment for investment.
