The Central Bank of Nigeria (CBN) has reaffirmed its commitment to economic stability, financial sector reforms, and the growth of Micro, Small and Medium Enterprises (MSMEs) as it marked its Special Day at the 37th Enugu International Trade Fair on Friday.

Speaking at the event, the Acting Director of Corporate Communications and Investor Relations, Mrs. Sidi Ali Hakama, said that the theme of the fair, “Empowering MSMEs for Global Competitiveness,” aligns with the Bank’s reform agenda aimed at fostering sustainable economic growth and development.

She described MSMEs as the “engine of growth” in any economy, noting their critical role in job creation, capacity building, and economic resilience. Hakama disclosed that under the leadership of the CBN Governor, Olayemi Cardoso, the Bank has implemented far-reaching reforms to strengthen Nigeria’s economy, improve transparency, and restore investor confidence.

According to her, key measures include reforms in the foreign exchange market, the introduction of a new FX manual to ease trade and investment processes, and plans to position Nigeria as a regional leader in digital and cross-border payments.

She added that the ongoing bank recapitalisation exercise, expected to end on March 31, 2026, has recorded significant progress, with 32 banks already meeting the new capital requirements and about 28 percent of investments sourced from foreign investors.