Ahmadu Bello University (ABU), Zaria, has commended the Central Bank of Nigeria (CBN) for its ongoing reforms aimed at restoring...
Ahmadu Bello University (ABU), Zaria, has commended the Central Bank of Nigeria (CBN) for its ongoing reforms aimed at restoring stability, transparency and credibility to the country’s financial system.
The university also called for stronger collaboration between the apex bank and universities through joint research, policy dialogue, staff exchanges, internships, student mentorship and practical exposure to monetary policy, banking and financial technology.
The Vice-Chancellor of ABU, Prof. Adamu Ahmed, made the call when he visited the CBN Governor, Mr. Olayemi Cardoso, in Abuja, according to a statement issued by the university’s Public Affairs Directorate on Friday.
Ahmed, who was accompanied by the Deputy Vice-Chancellor, Advancement, Research and Innovation, Prof. Aliyu Rafindadi Sanusi, commended Cardoso and his team for what he described as important reforms undertaken since the governor assumed office.
“I wish to briefly commend you and your team for the important reforms undertaken since your assumption of office,” Ahmed said.
The vice-chancellor said Cardoso inherited a challenging economic environment marked by pressures in the foreign exchange market, high inflation, weakened confidence and significant macroeconomic imbalances.
He said the university recognised the efforts of the CBN leadership to restore stability, transparency and credibility to the financial system.
Ahmed identified reforms in the foreign exchange market, efforts to strengthen reserves and market confidence, the recapitalisation of the banking sector and renewed attention to monetary policy effectiveness as important steps in the right direction.
He also expressed satisfaction with what the university described as the CBN’s efforts to strengthen monetary-fiscal coordination as part of measures to rein in inflation.
Ahmed acknowledged that difficult economic reforms could take time and involve short-term adjustments, but stressed the need for policy consistency, institutional discipline and measures to address longstanding economic distortions.
“The objective must ultimately be a more stable economy that promotes investment, productivity, employment and inclusive growth,” he said.
On collaboration with universities, Ahmed said academic institutions could contribute research, knowledge, innovation and young talent, while the CBN could provide practical policy experience and insights into major economic issues confronting the country.
“There is scope for joint research, policy dialogue, staff exchanges, internships, student mentorship and practical exposure to monetary policy, banking and financial technology,” he said.
Responding, Cardoso expressed appreciation for the visit and commended ABU for its contribution to the development of human resources for the CBN.
The governor, according to the statement, specifically acknowledged the university for producing several senior officials of the apex bank, including former CBN Governor Sanusi Lamido Sanusi and several deputy governors.
Cardoso also said he looked forward to visiting ABU to interact with members of staff and students on Nigeria’s economy and related issues.
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