The Central Bank of Nigeria (CBN) has created avenues for micro, small, and medium enterprises (MSMEs) to grow in a competitive business environment through access to credit facilities, intervention funds, forex management, and financial inclusion strategies, the Abuja Chamber of Commerce and Industry (ACCI) has said.
Director General of ACCI, Agabaidu Jideani, made the remarks during the CBN’s special day at the 20th Abuja International Trade Fair (AITF), highlighting the bank’s critical role in stabilising inflation and fostering confidence in Nigeria’s financial system.
“Through access to credit facilities, intervention funds, forex management, and financial inclusion strategies, the CBN has opened opportunities for our members, particularly MSMEs, to thrive in a competitive environment,” Jideani said. “Its role in stabilising inflation and ensuring confidence in the financial system remains essential to business sustainability and competitiveness.”
Jideani noted that the CBN’s presence at the trade fair underscores the link between monetary policy, financial system stability, and private sector growth. He highlighted key reforms and programmes, including the rollout of the Open Banking Framework, expansion of contactless payments, a regulatory sandbox for fintech innovation, and continued support for MSMEs, describing them as “crucial milestones” for Nigerian businesses.
“These initiatives provide businesses with easier access to finance, safer payment channels, improved forex transparency, and innovative financial solutions tailored to the Nigerian economy,” he said. Jideani also praised the CBN’s focus on youth empowerment, capacity building, and targeted interventions in agriculture, housing, healthcare, and education, noting that these efforts reduce barriers to business and de-risk critical sectors for private investment.
Acting Director of Corporate Communications at CBN, Hakama Sidi Ali, said the fair’s theme, “Sustainability: Consumption, Incentives and Taxation,” aligns with the bank’s push to diversify Nigeria’s productive base and boost exports of non-oil commodities. She added that CBN participates in the fair to educate stakeholders on its policies and programmes, which are vital for enhancing economic activity, inclusiveness, and global competitiveness.
Sidi Ali reaffirmed the commitment of CBN Governor Yemi Cardoso to addressing challenges in the Nigerian economy to boost productivity and strengthen the local economy against external shocks.
The ACCI called for continued collaboration between the central bank and the organised private sector, emphasising partnerships in policy advocacy, financial literacy, and sectoral linkages to accelerate inclusive growth and support enterprise development across Nigeria.
