The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele and the Governor of the Central Bank of Nigeria, Olayemi Cardoso have signed a Memorandum of Understanding (MoU) to strengthen coordination between fiscal and monetary policies and promote greater macroeconomic stability.
The signing took place at the Headquarters of the CBN in Abuja.
The framework is designed to improve policy consistency, enhance information sharing, strengthen economic forecasting, and support efforts to sustainably reduce inflation while fostering investment, growth, and job creation.
The agreement institutionalises collaboration between the Federal Ministry of Finance and the Central Bank of Nigeria, reinforcing a shared commitment to sound economic management and long-term economic resilience.
Speaking during the signing, Governor Cardoso said “It is important to emphasise that this Memorandum does not create a new relationship between our institutions. The Central Bank of Nigeria and the Federal Ministry of Finance have worked together for decades in addressing critical macroeconomic issues, including inflation management, debt sustainability, budget financing, exchange rate stability, economic reform programmes and responses to domestic and global shocks”.
“That longstanding partnership has served our country well, helping Nigeria navigate periods of both challenge and opportunity. What distinguishes today’s event is the formal institutionalisation of that collaboration,” he added.
The Memorandum provides a structured framework for regular consultation, information exchange and policy coordination. It will strengthen collaboration in critical areas such as government cash management, debt issuance planning, liquidity forecasting, macroeconomic analysis and periodic policy consultations, thereby enhancing policy coherence and the effectiveness of economic management.
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