In a keynote address during the 2025 macroeconomic outlook launch by the Nigerian Economic Summit Group, Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced the establishment of a Compliance Department within the apex bank. The new department is set to become operational by the end of February.

Cardoso highlighted that the Compliance Department aims to address past challenges, align with global standards, and enhance transparency and resilience in Nigeria’s financial sector to drive economic growth and development. The department will have both internal and external functions.

Additionally, Cardoso discussed the introduction of a foreign exchange code to ensure market fairness and transparency. The CBN also plans to prioritize exchange rate stability, encourage foreign investment, and support fiscal operations in critical sectors of the economy. Cardoso emphasized that strengthening financial institutions remains a priority for the CBN to effectively support the real sector.