Finance ministry, CBN sign pact to coordinate inflation policies

The Federal Government of Nigeria and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding to coordinate policies on inflation, public debt, government borrowing, liquidity, and foreign exchange management. The agreement establishes a formal framework for collaboration between the Federal Ministry of Finance and the CBN, ensuring that key economic decisions align without compromising the CBN's independence.

The signing of the pact comes as Nigeria moves towards a new inflation-targeting framework, with CBN Governor Olayemi Cardoso emphasizing the importance of complementary fiscal and monetary policies in achieving the goal of single-digit inflation.

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