The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated his determination to bring about positive change in the operations of the CBN and ensure that its policies have a more significant and beneficial effect on the people of Nigeria. He expressed this commitment while hosting the former Governor of the central bank, Mr. Muhammadu Sanusi II, and a delegation from the Impact Investing Community.
Cardoso emphasized that during his tenure, the CBN would focus on its core mandate of maintaining price stability, particularly by addressing the issue of rising inflation, which has been affecting the pricing of goods and services in the country.
He expressed the hope that his time as CBN Governor would leave behind a central bank whose policies had a positive impact on people’s lives. He acknowledged the role of the CBN in influencing economic stability through its activities and policy decisions.
Cardoso thanked the Impact Investing Community for their visit, acknowledging the potential for transforming Nigeria’s economy through investment opportunities both within the country and globally. He praised the community’s leadership and their efforts to create awareness and build partnerships.
The CBN Governor assured that the CBN would collaborate with the Impact Investing Community to establish frameworks that encourage investments, positively influence the lives of Nigerians, and contribute to economic growth.
In response, Mr. Muhammadu Sanusi II, the former CBN Governor, highlighted the significant impact that the central bank can have on the lives of Nigerians through its activities. He expressed concerns about the current inflation rate and urged the new CBN leadership to work diligently to reduce it, as high inflation has adverse effects on individuals’ wealth.
Sanusi emphasized the importance of long-term planning by the CBN and called on fiscal authorities to focus on agriculture and education, particularly for the girl-child. He pledged his continued support, along with the Impact Investing Community, to help the CBN achieve its goals.
Chair of the Impact Investing Community, Mrs. Ibukun Awosika, conveyed their willingness to support the CBN and the Nigerian government’s efforts to improve the country’s investment climate and redirect resources to areas with a positive impact. She noted the availability of significant investment funds globally, including those focused on social impact. The community, with a presence in over 41 countries, aims to collaborate with traditional investment practitioners to make a positive difference in Nigeria.
Dr. Bala Bello, CBN Deputy Governor for Corporate Services Directorate, emphasized the importance of investment, stating that global capital is increasingly moving toward social investment. He thanked the Impact Investing Community for their support and stressed the importance of collaboration and effective communication in addressing the challenges facing Nigeria.