CBN Governor Olayemi Cardoso says Nigeria’s economy remains resilient despite global economic uncertainties, with inflation moderating and the foreign exchange market staying relatively stable.

Addressing the Senate Committee on Banking, Insurance and Other Financial Institutions, Cardoso said economic activities continue to grow across key sectors, reflecting the country’s improving economic outlook.

He added that the Central Bank remains focused on maintaining price stability, supporting sustainable growth and increasing diaspora remittances to $1 billion monthly.

Cardoso’s remarks come days after Finance Minister Wale Edun dismissed claims that the Tinubu administration borrowed ₦80 trillion in three years, saying the figures were largely the result of accounting adjustments rather than fresh borrowing.