CBN Governor Cardoso has announced the Suspension of All CBN Intervention Programs, he pledged to bolster transparency, address corporate governance issues, and guarantee the autonomy and integrity of the bank, instilling confidence.

“We need to promptly find a way to take care of that. It would be naive for us to expect that we’ll be making too much progress if we’re not able to handle that side of the foreign exchange market,” he said.

Furthermore, the newly appointed CBN governor has expressed his plan to ensure price stability, shift towards evidence-based monetary policies, and put an end to the unconventional monetary measures introduced by his predecessor, all to boost the value of the naira.