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Cardoso says Tinubu’s Tough Reforms Are Showing Positive Results For Nigeria
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the economic reforms introduced by President Bola Tinubu’s administration in the past eighteen months are tough but already yielding positive results.
Cardoso made this known in excerpts released after the 2025 IMF and World Bank Spring Meetings in Washington D.C. He said Nigeria’s delegation attended the meetings to showcase the economic steps taken under Tinubu’s leadership.
According to him, the country has strengthened its monetary buffers and is now in a better position to withstand external shocks. He assured Nigerians that although the reforms are not easy, they are pushing the economy from a place of weakness toward one of growing strength.
Since 2023, Tinubu’s government has rolled out major reforms like liberalising the foreign exchange market and removing fuel subsidies. Under Cardoso’s leadership, new measures like the FX code, the Electronic Foreign Exchange System (EFEMS), and the recapitalisation of the financial system were also introduced.
Meanwhile, Nigeria’s inflation dropped to 23.18 percent in March 2025, while the interest rate stood at 27.50 percent in February, even as the cost of living remained high.
It was reported that bandits were seen in Kwara State and abducted six residents from Rukpete Village.
The incident was reported to have occurred on June 8 at about 11 p.m.
Sources revealed that seven people were initially taken, but an elderly man was later released, leaving six victims in captivity.
The rising cases of insecurity in the country remain quite alarming.
The state of the country is affecting many people, as they believe nowhere is safe, including schools where they keep their children.
It has been reported that some parents have started withdrawing their children from schools in Abuja.
It can be noted that rumours of bandits being sighted near a school triggered panic, causing parents to hurriedly remove their children for safety.
While the reports of bandits have not been confirmed, the school has also issued safety measures to ensure the protection of students within the premises.
It has been rumored that bandits have made their way to Lagos, and allegedly they were spotted in Ibeju-Lekki, where some residents became suspicious of them and reported the matter.
A clip of the group of men went viral online, and many people became concerned. Whether true or not, fear has been sparked among Lagosians as they worry that bandits may already be in the state. Even if the reports remain unconfirmed, many believe it is still a possibility worth paying attention to.
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