According to Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), the financial institution will no longer support intervention initiatives.

When Cardoso testified before the Senate committee on banking, insurance, and other financial institutions in Abuja on Friday, he made this revelation.

The head of the apex bank stated that throughout the years, the apex bank had stopped implementing about N10 trillion in quasi-fiscal measures that were passed off as “intervention programs.”

He further stated that the bank will examine more circumstances and make other decisions on these crucial matters at the upcoming Monetary Policy Committee (MPC) meeting, which is set for February 26 and 27.


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