Ahead of the Monetary Policy Committee (MPC) meeting, Governor Olayemi Cardoso of the Central Bank of Nigeria revealed plans to revamp the bank’s communication strategy.
Mr. Cardoso emphasized the importance of communication in monetary policy, acknowledging its complexity. He expressed the intention to refine the communication strategy to ensure clear messaging tailored to various target audiences.
“We are revamping the whole communication strategy for the CBN, and I am hoping that as we move forward particularly as the monetary policy committee engagement takes place, you are going to see the way and manner in which we try and get out the messaging,” he said.
He highlighted that the CBN is actively engaging with diverse financial and economic stakeholders to enhance their understanding of the operational framework.
“We are going to strengthen the process of getting out and receiving feedback because the worst thing you want to do is to make communication a one-way traffic,” he added.
To foster transparent and productive dialogue in navigating the complexities of monetary policy, Mr. Cardoso stated that the bank aims to solicit feedback on all implemented policies.