Cardoso stated that the surprise outcome was managed through deliberate communication and prior reforms, including a Memorandum of Understanding between fiscal and monetary authorities to ensure alignment. The introduction of an overnight financing rate also provided clearer interest rate conditions compared to the previous system, contributing to the strengthened policy framework.

He emphasized that Nigeria's monetary policy decisions must be tailored to its unique economic circumstances, rather than mirroring those of other nations. Nigeria's inflation cycle, influenced by domestic policy changes like foreign exchange harmonization and the removal of petrol subsidies, differs from the global trend, necessitating an independent assessment of economic conditions.

The CBN Governor also detailed the Monetary Policy Committee's (MPC) decision-making process, stressing the importance of member independence for robust deliberations. The committee includes seven internal and five external members, with the latter providing independent perspectives to challenge assumptions and strengthen policy credibility.

Cardoso noted that the CBN's communication strategy played a crucial role in helping market participants understand the rationale behind the unexpected decision. He spent additional time engaging with journalists to explain the economic challenges, implemented reforms, and progress achieved, which facilitated market comprehension and acceptance.

Ultimately, Cardoso asserted that the successful execution of such a surprising decision hinges on the CBN's established credibility with the market, built over time through consistent and appropriate actions that foster trust.