Cardoso Drops Hammer: “We Won’t Repeat Past Mistakes, CBN Intervention Programmes Nearly Ruined Monetary Policy”

CBN Governor Olayemi Cardoso has warned against returning to intervention programmes, stating that such measures weakened monetary policy and created financial distortions. Speaking in Abuja, Cardoso insisted that the bank’s credibility is being rebuilt through orthodox policies, not unorthodox experiments. He noted that reforms introduced over the last two and a half years are already yielding results, including early signs of inflation moderation. The message is clear: the era of CBN interventions is over.