Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), said on Thursday that inflation, which is the change in the price of goods and services, has begun to moderate as month-on-month inflation has dropped by 50 percent.
He said this during a fireside chat with Frank Aigbogun, publisher/chief executive officer of BusinessDay Media Limited, at the ongoing 2024 CEO forum, themed ‘Leadership in tough economic times.’
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“Between February and now, the month-to-month inflation has decreased by 50 percent. I’m confident, in a not too distant future, things will begin to moderate,” he stated.
He further said that the MPR hikes were also timely because it contributed to the decline in month-on-month inflation between February and May.
“It was also a timely issue. It’s not something that I expect will remain with us forever. The ability to soak up the excess liquidity over time is important to the MPC.”
Hope Moses-Ashike and Zainab Aderounmu
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
