Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has reaffirmed his commitment to prioritizing the central bank’s primary goal of maintaining price stability during his tenure.
In a statement released yesterday, the bank confirmed that Mr. Cardoso reiterated his leadership direction while hosting the Impact Investing Community, led by Muhammadu Sanusi II, the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order in Nigeria and neighbouring regions, who previously held the role of CBN Governor.
While addressing his team in his office, Mr. Cardoso asserted his administration’s firm resolve to transform the CBN’s image and make its positive impact on Nigerians more pronounced by tackling inflation.
He said, ‘At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.’
Going on to elaborate, Mr. Cardoso extended his appreciation to the Impact Investing Community for their visit to the CBN. He underscored that the community symbolizes a bright prospect for Nigeria, with the potential to reshape the country’s economy by leveraging the available investment opportunities nationwide.
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Extolling the exemplary leadership within the Impact Investing Community and their dedicated efforts in promoting awareness and cultivating partnerships, the head of the CBN provided assurance that the Bank would engage in collaboration with them to establish frameworks that incentivize investments contributing to economic expansion.
Khalifa Sanusi, in his statement, acknowledged that the Bank’s actions wielded a substantial influence on the well-being of Nigerians. He pointed out that the true importance of a Central Bank’s endeavors often becomes evident in the wake of a Central Bank’s failure.
As he shared his worries about the inflation rate, he urged the new leadership at the CBN to maintain unwavering efforts in lowering the rate, highlighting its detrimental effects on people’s wealth.
In addition, he recognized the value of the CBN’s long-term planning approach in realizing its goals, while highlighting the importance of fiscal authorities directing their efforts toward agriculture and education, especially for girls.
Khalifa Sanusi reiterated his commitment to providing continued support, in partnership with the Impact Investing Community, to the CBN in its quest to achieve its goals.
Mrs. Ibukun Awosika, Chair of Impact Investing, conveyed their willingness to assist in the endeavors of the CBN and the federal government.
They proposed the restructuring of Nigeria’s investment landscape by directing resources to areas where they could generate the most significant positive changes.
As per her remarks, the total available investment funds across the world amounted to over $200 trillion, with $1 trillion specifically dedicated to Impact Investing.
She continued by pointing out that Impact Investing, active in over 41 countries, was eager to collaborate with traditional investment professionals to have a lasting impact in the country.
In highlighting the importance of social investment, she expressed her desire for the CBN’s support to help the organization fulfill its objectives.