Cardoso Restates CBN’s Focus On Price Stability

Edited By Umbwanko Baba

The Governor, Central Bank of Nigeria, CBN, Mr. Olayemi Cardoso has reiterated that under his leadership, the Bank will focus mainly on the core mandate of price stability.

He stated this while playing host to the Impact Investing Community, led by the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order of Nigeria and neighbouring countries, Muhammadu Sanusi II, who is also a former Governor of the Central Bank of Nigeria.

Addressing the team in his office, Mr. Cardoso said the CBN was determined to change the narrative about the Bank and make it more impactful in the lives of Nigerians by curtailing inflation.

Speaking further, Mr. Cardoso thanked the Impact Investing Community for visiting the CBN, noting that the community represented an excellent future for Nigeria and has the potential to transform the country’s economy by tapping into the investment opportunities available across the country and the world.

While commending the quality of leadership at the Impact Investing Community and its effort to create awareness as well as build partnerships, the CBN Governor assured them that the Bank would collaborate with them in the direction of putting in place frameworks that will encourage investments that will positively influence the lives of Nigerians and contribute to economic growth.

In his remarks, Khalifa Sanusi while expressing happiness over the visit to the new CBN Governor, noted that the Bank’s activities had a massive impact on the lives of Nigerians, adding that many people often do not know the impact of a Central Bank until the Central Bank fails.

Khalifa Sanusi who also expressed concerns on the state of the nation’s inflation rate, urged the new leadership of the CBN to work persistently at driving down the rate, which he noted had severely impacted the wealth of individuals.

While acknowledging the importance of long-term planning by the CBN in achieving its goals, Khalifa Sanusi emphasised the need for the fiscal authorities to focus on agriculture and education, especially for the girl-child.

Also speaking, the Chairperson, Impact Investing Community, Mrs. Ibukun Awosika, said they were at the CBN to register their willingness to support what the Bank and the Federal Government were doing in terms of changing Nigeria’s investment climate by redirecting resources to areas where they will make the most positive impact.

Equally speaking at the meeting, the Deputy Governor in charge of Corporate Services, Dr. Bala Bello, underscored the importance of investment, noting that the global capital was moving towards social investment.