By Oluwakemi Kindness
The Central Bank of Nigeria (CBN) says the gap between the official exchange rate and Bureau de Change rates has narrowed to below two per cent.
The apex bank said the development reflects improving stability in the foreign exchange market.
The Acting Director of Corporate Communications and Investor Relations Department of the CBN, Hakama Sidi-Ali, disclosed this while delivering the opening remarks of CBN Governor Olayemi Cardoso at the CBN Fair in Gombe on Tuesday.
She attributed the improvement to ongoing reforms, including exchange-rate unification and greater transparency in the foreign exchange market.
Sidi Ali said the reforms introduced under Cardoso were beginning to deliver measurable gains in the economy.
She also said headline inflation declined slightly from 15.93 per cent in May to 15.91 per cent in June 2026.
According to her, food and core inflation also moderated during the period.
She attributed the trend to disciplined monetary tightening, exchange-rate unification and improved market transparency.
The CBN official also highlighted banking sector recapitalisation, the non-resident Bank Verification Number, the B-Match foreign exchange trading platform and the Nigeria Payments System Vision 2028 among the reforms implemented over the past 34 months.
She reaffirmed the CBN’s commitment to maintaining monetary and price stability while creating an environment that encourages investment and sustainable economic growth.
