Finance

CBN Reforms: Shielding Nigeria from Global Shocks?

CBN reforms under Olayemi Cardoso, including FX unification, deficit financing halt, and banking recapitalization, have bolstered Nigeria's economy against Middle East crisis shocks. Reserves rose, remittances hit $600M/month, inflation eased, and World Bank upgraded 2026 growth to 4.4%. IMF notes lower risks for oil exporters like Nigeria amid global headwinds.

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Nigeria Private Credit Hits N94.6tn Record as Gov Borrowing Soars

Central Bank of Nigeria data shows private sector credit surging to a record N94.61 trillion in February 2026 from N93.74 trillion in January, while net claims on government climbed to N39.36 trillion. This synchronized growth contrasts 2025's tight liquidity and range-bound trends, with CPS expanding N18.35 trillion YoY and government credit up N12.25 trillion, signaling broad balance sheet expansion.