• About
  • Advertise
  • Contact
Wednesday, October 29, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Cardoso’s Reversal Of Monetary Policy Missteps, Yielding Positive Results – TDF

Vital News by Vital News
October 25, 2024
in Economy
0
64th Independence Day : 10 Takeaways From President Bola Tinubu’s Speech
Share on FacebookShare on Twitter

A group,The Democratic Front (TDF) says the monetary policy of the Central Bank of Nigeria (CBN) under Olayemi Cardoso is one that is yielding positive results.

In a statement signed by its Chairman, Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, TDF noted that Cardoso’s policies were targeted at redressing misteps of his predecessor.

It said : “We commend efforts made so far by the Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on the sweeping reforms in monetary policies, which have significantly impacted Nigeria’s economy.

“Our position is predicated on the latest edition of World Bank’s Nigeria Development Update (NDU), which identified policy missteps between 2015 and 2023 as triggers for the spike in inflation

“For us the need to avoid a replica of the Venezuelan economic tragedy on our doorstep necessitated President Bola Ahmed Tinubu’s sweeping reforms, which were aimed at deregulating the economy, and also reinventing a new fiscal and monetary system that will compete favorably with global economic practices on self-sufficiency and self-sustainability.

RelatedStories

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

“Since his appointment as the apex bank governor, Cadoso has resonated the positive spirit of a hard working and focused Central Banker.Under his leadership, the Monetary Policy Committee (MPC) has implemented five interest rate hikes from 18.75% to 22.25%, and subsequently 24.75% to 26.75% and a 50 basis point increase to 26.75% in July 2024.

“This move has been hailed by global economic experts and investors as being responsible for the stability of the local currency under the free float regime.

“This is a key element in investment decision-making by potential investors.

“The CBN Governor has successfully managed the initial storm and turbulence of inflationary pressure, volatile foreign exchange market, mounting debts, and fears of financial inclusion by introducing a slew of monetary reforms.

“The policies and actions that have restored transparency to foreign exchange transactions and eliminated the arbitrage opportunities that hitherto plagued the system.

“He also cleared a huge backlog of forex obligations that has boosted investors’ confidence and tremendously improved liquidity in the economy.

“This development is symbolically evident in the current level of Nigeria’s external reserve, which stands at $38.9 billion as against $33.6 billion in October 2023.

“Cardoso’s leadership of the Central Bank has instructively made the Naira one of the most competitive currencies in the world.

“The economy is one of the most attractive to foreign portfolio investors.

“The TDF strongly believes that the present cheap value of the Naira against the dollar, coupled with the temporary hardship and pressure it has brought upon consumers in the country was necessary for the long term economic reform of the Tinubu administration to succeed.

“We are, however, confident that the economy will soon regain its full balance and grip on ecosystem, and the current hardship will be a thing of the past in the next one year.”

TDF urged Cardoso to continue in the direction he is currently headed with the apex bank.
(vitalnewsngr.com)

Tags: CardosoCBNEconomypolicy
Previous Post

Tinubu flags Off 1068KM Sokoto – Badagry Super Highway Project

Next Post

FG Gives Kogi Approval To Upgrade Zariagi Airstrip To Airport

Vital News

Vital News

RelatedStories

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn
Economy

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

October 27, 2025
Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme
Economy

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

October 23, 2025
‎IMPI Welcomes First Interest Rate Cut In Five Years, Says CBN Decision Aligns With Its Projection
Economy

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

October 22, 2025
FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments
Economy

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

October 17, 2025
Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector
Economy

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

October 16, 2025
Next Post
Ododo Approves N72,500 As New Minimum Wage For Kogi Workers

FG Gives Kogi Approval To Upgrade Zariagi Airstrip To Airport

FG Moves To Checkmate Incessant Boat Mishap, Deploys 350 Marshals To Flashpoints On Inland Waterways

FG Moves To Checkmate Incessant Boat Mishap, Deploys 350 Marshals To Flashpoints On Inland Waterways

Don Advocates Strengthening Of Art Education Across Primary, Secondary, Tertiary Institutions

Don Advocates Strengthening Of Art Education Across Primary, Secondary, Tertiary Institutions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Lagos Organises Study Tour Of Canada For State Youth Leaders

Lagos Organises Study Tour Of Canada For State Youth Leaders

6 months ago
Tinubu Removes Solomon Arase As Chairman  Of Police Service Commission

Police Service Commission Promotes 8CPs To AIGs, 15 DCPs To CPs

1 year ago
FAAC Shares N1.411trillion October Revenue Among FG, States, LGs

FAAC Disburses N1.681trillion April Revenue To FG, States, LGs

6 months ago
Taraba Assembly Trains Journalists on Digital Parliamentary Reporting

Taraba Assembly Trains Journalists on Digital Parliamentary Reporting

9 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security

President Tinubu Hails Oloye Lekan Alabi At 75

ARMTI, Abia State Partner To Create Wealth For Farmers, Opens Regional Office In South-East

More Than 65% Of Diseases Suffered By Nigerians Are Livestock Related – NVMA President

Dangote Refinery Announces Plan To Increase Capacity From 650,000bpd To 1.4million bpd

Trending

Opinion

CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE

by Vital News
October 28, 2025
0

CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE Who makes these changes? “I...

AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

October 28, 2025
Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS

October 28, 2025
FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

October 27, 2025
Aliko Dangote Foundation Flags Off  National Initiative To Promote Fermented Foods For Nutrition And Food Security

Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security

October 27, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE October 28, 2025
  • AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale  October 28, 2025
  • Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS October 28, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In