Economy
FG, CBN Sign MoU to Strengthen Fiscal, Monetary Policy Coordination
FG, CBN Sign MoU to Strengthen Fiscal, Monetary Policy Coordination
The Federal Ministry of Finance and the Central Bank of Nigeria (CBN) have formalised a new framework for closer fiscal and monetary policy coordination, in an effort to strengthen economic stability, improve policy consistency and address inflation.
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The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the Memorandum of Understanding (MoU) would institutionalise coordination through stronger information sharing, aligned macroeconomic assumptions, consistent forecasts and clearer mechanisms for resolving areas where fiscal and monetary policies could work at cross purposes.
Speaking at the signing ceremony in Abuja, Oyedele said the framework was designed to move coordination beyond personalities and make it a permanent feature of Nigeria’s economic management.
He stressed that while the Ministry and the CBN have distinct mandates and must retain their institutional independence, their policies ultimately affect the same economy and therefore require closer coordination.
He explained that government borrowing has implications for liquidity, interest rates and financing costs, while monetary policy affects government finances.
Exchange rates, tariffs, government spending and agricultural policies also have direct consequences for prices, revenue and economic activity.
Oyedele identified bringing inflation sustainably into single digits as a major focus of the framework, stressing that this could not be achieved through monetary policy alone. He said the Ministry would contribute through disciplined spending, sound cash and liquidity management and more efficient government financing, while fiscal interventions would address structural drivers of inflation, particularly food, energy, imported costs and logistics.
On food inflation, the Minister said the Ministry would work with relevant institutions and state governments to strengthen grain reserves, improve agricultural yields and irrigation, build climate resilience and address farm-to-market infrastructure gaps.
He also ruled out a return to fuel subsidy, saying it would put further pressure on public finances and the naira, while improved foreign exchange stability and tax exemptions on fuel had contributed to moderating prices.
Oyedele said better economic data would also be critical to effective policy coordination, noting that the Ministry was working with the National Bureau of Statistics to expand the quality and range of data available for policy decisions.
Under the new framework, the Ministry and the CBN will also strengthen information sharing on cash positions, financing plans, credit growth and foreign exchange flows. “Better coordination starts with a common evidence base,” he said.
The Minister said recent economic developments showed strengthening confidence in the Nigerian economy, citing a balance of payments surplus of more than $5 billion in 2025 and external reserves of over $54 billion.
The minister pointed to increased non-oil exports, declining refined-product imports as domestic refining capacity expands, Nigeria’s return to Frontier Market status and its inclusion in JPMorgan’s new frontier local-currency government bond index.
He, however, stressed that the government’s focus extended beyond short-term portfolio inflows to attracting patient capital that would translate into factories, infrastructure, technology and jobs.
“This required policy consistency and certainty and a regulatory environment that does not impose unnecessary burdens on businesses, while the coordination framework would also take account of the economic consequences of insecurity and illicit financial flows.
Oyedele explained that the Federal Ministry of Finance would continue to drive fiscal discipline, improved liquidity management, stronger transparency and data systems, more efficient financing and reforms aimed at increasing production and easing structural inflation.
“Nigeria has one economy. Fiscal policy cannot succeed without price stability; monetary policy cannot deliver price stability if fiscal policy pulls in the opposite direction,” he said.
The CBN Governor, Olayemi Cardoso, described the signing as a significant step in strengthening Nigeria’s macroeconomic management and economic stability, noting that fiscal and monetary policies are complementary instruments whose combined impact is stronger when they work in harmony.
Cardoso said the MoU did not create a new relationship between the two institutions, which have collaborated for decades on inflation management, debt sustainability, budget financing, exchange rate stability and responses to economic shocks.
Rather, he said, it formalises that longstanding collaboration through structured processes for regular consultation, information exchange and policy coordination.
He said the framework would strengthen cooperation in areas including government cash management, debt issuance planning, liquidity forecasting, macroeconomic analysis and periodic policy consultations.
CBN, FG
The CBN Governor added that the timing was particularly important as the CBN advances its transition towards an inflation-targeting framework, whose effectiveness also depends on a supportive fiscal environment.
Cardoso commended Oyedele and the technical teams from both institutions for their roles in bringing the initiative to fruition, reaffirming the CBN’s commitment to sound monetary policy, macroeconomic stability and financial system resilience. He said the strengthened partnership would help build a more stable and resilient economy capable of creating greater opportunities for Nigerians.
Efe Ovuakporie Head information & PR Unit
18th Sept. 2026
Eereporter.com
Economy
NAF Commissions 30-flat Residential Facility in Makurdi to Promote personnel welfare, Says Better Home, Stronger Force
NAF Commissions 30-flat Residential Facility in Makurdi to Promote personnel welfare, Says Better Home, Stronger Force
The Nigerian Air Force (NAF) has reinforced its commitment to personnel welfare and operational readiness with the commissioning of a newly completed 30-flat residential facility for married non-commissioned officers at NAF Base Makurdi.
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Commissioning the facility on 18 September 2026, the Chief of the Air Staff (CAS), Air Marshal Sunday Kelvin Aneke, DFS, stated that providing decent accommodation for personnel and their families is essential to building a focused, motivated and mission-ready force capable of meeting Nigeria’s security demands.
Represented by the Chief of Policy and Plans, Headquarters NAF, Air Vice Marshal AY Abdullahi, the CAS noted that the facility reflects the Service’s sustained investment in the wellbeing of its personnel. He emphasised that an airman provided with decent living conditions is better positioned to remain focused and fully committed to duty, as improved accommodation helps reduce domestic pressures while enhancing morale, productivity and operational effectiveness.
The 30-flat facility is expected to ease accommodation challenges and improve the quality of life of beneficiaries while contributing to NAF’s capacity to deliver airpower in support of national security objectives.
NAF Housing
The CAS urged personnel to maintain the facility responsibly, stressing that investments in welfare are not only about improving living conditions but are also critical to sustaining a professional, resilient and effective fighting force.
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US President Trump Lists 25 Achievements of First 20 Months in Office
President Donald Trump has listed 25 achievements he said his administration had recorded since returning to office in January 2025.
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Trump made the claims in a post on his Truth Social platform on Friday, where he highlighted his administration’s policies on immigration, taxes, trade, crime, defence, energy, education and foreign affairs.
Among the achievements listed by the US president were what he described as the “most secure border in history”, the signing of the Laken Riley Act and what he called the largest drop in the US murder rate in history.
Below is the full list:
Achieved the most secure border in history – ZERO illegal aliens admitted to the United States in the past 16 months.
Signed the Laken Riley Act to get dangerous criminal aliens off our streets.
Achieved the largest drop in the murder rate EVER recorded, to the lowest level in 125 years-since 1900.
Signed the largest tax cuts in American History – the Great Big Beautiful Bill-including No Tax on Tips, No Tax on Overtime, and No Tax on Social Security for our great seniors.
Secured commitments for $19.2 trillion dollars of new investment in the United States.
Imposed historic tariffs to bring back American Manufacturing – including 50% tariffs on foreign copper, aluminum, and steel, and 25% tariffs on foreign automobiles.
The stock market has set 80 all-time record highs since the election.
More Americans are working today than at any time in the history of our country.
Made the largest-ever investment in the United States Armed Forces- $1 trillion dollars this year, and hopefully $1.5 trillion next year.
Captured and brought to justice the outlaw dictator of Venezuela, Nicolas Maduro, through Operation Absolute Resolve.
Obliterated Iran’s nuclear enrichment capacity with Operation Midnight Hammer and Operation Epic Fury to ensure Iran will NEVER have a nuclear weapon.
Conducted numerous successful military strikes to smash the drug cartels operating in our hemisphere-brought the flow of deadly fentanyl across our border down by a record 60%.
Secured Most Favoured Nation agreements to reduce the cost of many prescription drugs by price differences of 300, 400, 500, and 600 percent.
Terminated the Green New Scam, declared a National Energy Emergency, and began to Drill, Baby, Drill.
Ended the insane Electric Vehicle Mandate and other crippling regulations on American Automobiles.
American Exports have soared to the highest level in American history-we are on track to export an unprecedented $2.5 TRILLION dollars in goods this year alone.
17 Abolished all discriminatory “Diversity, Equity, Inclusion” (DEI) policies throughout the federal government and private sector.
Banned MEN from playing in women’s sports.
Banned transgender ideology and critical race theory in our schools.
Trump
Launched Trump Accounts – tax free investment accounts for every American child, starting with $1,000 for every newborn child.
Settled 8 raging wars with historic peace deals in our first 12 months- including the War in Gaza.
Got all living hostages returned to their families, both living and dead.
Halted all refugee admissions to the United States, including from Somalia and other dangerous places.
Deployed National Guard to restore Law and Order to Washington, D.C., Memphis, and New Orleans.
Made English the Official Language of the United States.
The list comes as the Trump administration continues to promote its record ahead of the 2026 US midterm elections.
Eereporter.com
Nigeria Customs Hits Economic Saboteurs, Seizes Cannabis, Others Worth ₦2.4bn in Ogun
The Nigeria Customs Service (NCS), Ogun I Area Command, has intensified its crackdown on smuggling and other forms of economic sabotage, recording seizures of contraband worth a combined Duty Paid Value (DPV) of ₦2.469 billion.
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The Acting Customs Area Controller of the Command, Deputy Comptroller Oladapo Afeni, disclosed this on Thursday, 17 September 2026, during a press conference at the Command’s headquarters in Idiroko, where he reviewed its operational activities and achievements.
He said the seizures included 1,204 bags of foreign parboiled rice, 3,893 parcels of cannabis weighing 1.878 tonnes, 428 pneumatic tyres, 8,675 litres of Premium Motor Spirit (PMS), 24 bales of second-hand clothing, four sacks of used shoes and 500 litres of diesel.
Afeni said the seizures resulted from intelligence-led enforcement operations and improved inter-agency collaboration, stressing that the Command remained committed to strengthening border security while facilitating legitimate trade.
“Our concerted operational strategies, intelligence-led enforcement, and enhanced inter-agency collaboration have yielded remarkable, tangible results across all key focus areas,” he said
A major highlight of the seizure was the interception of a 2026 Range Rover Sport with a DPV of ₦417,011,982. “Our relentless anti-smuggling drives have dealt severe blows to illicit trade networks operating across Ogun State.”
In line with inter-Agency collaboration, the seized parcels of cannabis sativa were handed over to a representative of the National Drug Law Enforcement Agency (NDLEA) for further investigation.
Nigeria Customs
Receiving the items, the Commander, NDLEA Idiroko Special Command, Olasumbo Akande, urged Nigerians to join the campaign against rampant drug abuse. “Idiroko remains a no-go area.
The Nigeria Customs, NDLEA, and other sister agencies will always come together to say “No” to hard drugs coming into our country or using our border as a transit for illegal goods,” he said.
Eereporter.com
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