The Emir of Kano, Muhammadu Sanusi II, has praised the Central Bank of Nigeria (CBN) for its recent monetary reforms, stating that Nigeria’s economy is now growing faster than its population for the first time in years.
Sanusi made the remarks during the 31st Nigerian Economic Summit, according to a video from the event that has circulated online.
The former CBN Governor said the apex bank had restored macroeconomic stability after years of excessive money supply and loose monetary policies, which he said contributed to economic instability.
“I have nothing but positive words for what the Central Bank has done. We are coming from the background of a very high level of instability as a result of loose money and uncontrolled growth in money supply. The Central Bank has taken one year to mop up all that money,” Sanusi said.
He added that the current reforms have created conditions for stronger economic performance, saying, “This is the first time that this economy will be growing faster than the population.”
His comments come shortly after the CBN retained the Monetary Policy Rate (MPR) at 26.50 percent for the second consecutive meeting, as it continues efforts to keep inflation under control. Nigeria’s inflation rate stood at 15.91 percent in June 2026.
The nation
