The Emir of Kano, Muhammad Sanusi II has hailed the Central Bank apex bank for what he described as a “remarkable turnaround” in Nigeria’s monetary and economic stability.
The emir who was a former governor of the Cental Bank spoke on recent economic developments, Sanusi said he had “nothing but positive words” for the CBN’s policies, noting that the institution had successfully stabilized the exchange rate and curbed the reckless monetary expansion that once threatened the economy.
“We’re coming from a background of very high levels of instability as a result of loose money… and the Central Bank has taken the last one year to mop up all that money.”
Emir of Kano, Muhammad Sanusi II, says Nigeria has pulled back from the brink of economic collapse.
The former governor highlighted key economic improvements, including declining inflation, which he noted had fallen to around 20 percent, and a steady rise in foreign reserves now exceeding $40 billion.
He described these gains as evidence that the CBN’s policy tightening and reform efforts are beginning to yield tangible results, restoring investor confidence and setting the economy on a path toward long-term stability.
