The Federal Government has ordered all public monies to be held under the Central Bank of Nigeria, a consolidation aimed at end-to-end oversight of revenues and expenditures.

Announcing the step at the 31st Nigerian Economic Summit in Abuja, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the administration achieved complete visibility of federal accounts at the CBN on 1 August 2025, key marker in its fiscal clean-up.

He explained that the sweep sits within a broader reform package: a new federal billing platform now tracks payments for goods and services from initiation to settlement, tightening audit trails and cutting leakages.

According to him, recent policy shifts, petrol subsidy removal and harmonisation of exchange rates, have lifted statutory transfers to states by over 111% and unlocked roughly 5% of GDP for the federation.

Edun added that the Executive and National Assembly have agreed to restore a disciplined budget timetable, ending carry-overs that blur accountability.

On borrowing, he outlined a pivot away from Eurobonds and other external paper toward Sukuk, green bonds and diaspora bonds, deepening local participation and linking funding to sustainability goals.

Measures to tame inflation, he noted, began with targeted fiscal adjustments and tighter spending priorities to stabilise prices and ease pressure on households.

“Our goal is simple: every federal naira sits in plain sight and is traceable,” Edun said, stressing that stronger cash positions at the sub-national level should translate into growth and better service delivery. He also affirmed there would be no further extensions of the budget into a new year, underscoring the push for timely passage and execution.