Nigeria’s Central Bank Governor, Yemi Cardoso has disclosed that the apex bank has successfully slashed the Ways and Means by over N24 trillion within three years of the Tinubu’s administration.
The administration of Muhammadu Buhari has been trenchantly criticised for alleged abuse of W&M after it forced the CBN to lend over ₦23.7 trillion in ‘Ways and Means advances’ to the federal government under its tenure, the figure rose significantly to ₦30 trillion by early 2024, according to checks from the apex bank.
While comparing the 2023 figures with the current, the CBN Governor said the nation’s W&M now stands at N2.84 trillion as at January 2026, instead of N26.95 trillion.
Cardoso spoke on Thursday in Abuja at the 2026 Monetary Policy Forum, MPF saying the country’s has shown resilience and become ‘strongest in years”. He however sounded a note of caution, saying the figures are still looks very delicate.
He said the cut in W&M has shown government’s rediness to put an end to fiscal irresponsibility.
“This action restored compliance with the law, strengthened central bank independence, signaled to markets about the Bank’s commitment to orthodoxy and transparency, and sent a clear message that the era of fiscal dominance had come to an end,” he said.
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