Nigeria, Sept. 23 -- The Centre for the Promotion of Private Enterprise (CPPE) has commended Central Bank of Nigeria (CBN) governor Yemi Cardoso for reforms that restored confidence in the financial system, but warned that the gains risk being undermined if growth remains constrained by tight monetary policies.

In a two-year review of Cardoso's leadership on Sunday, CPPE said Nigeria's apex bank had taken bold steps to improve transparency, credibility and governance.

It highlighted the unification of the foreign exchange (FX) market, curbing excessive monetary financing, and strengthening bank recapitalisation measures as key milestones.

"Transparency and credibility have improved, with the elimination of multiple FX windows reducing ...