Nigeria, Feb. 21 -- On Thursday, the Central Bank of Nigeria's (CBN) governor, Olayemi Cardoso, stated that the central bank's goal is to reduce inflation to a single digit over the medium to long term.

Although the recently revised Consumer Price Index (CPI) shows a headline inflation rate of 24.48 percent year over year, reflecting the nation's economic realities, he said this number is still much higher than what is considered acceptable.

Following evaluation, CBN will release the rebased CPI data conclusions. As a data-driven organization, he said, the apex bank is now analyzing the rebased statistics made public by the National Bureau of Statistics (NBS) and will share its conclusions when they are ready.

He gave a briefing on the...