Home Banking & Finance CBN governor, Cardoso reiterates commitment to price stability

CBN governor, Cardoso reiterates commitment to price stability

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Governor of the Central Bank of Nigeria, Olayemi Cardoso, has reiterated his leadership’s commitment to focus mainly on price stability.

This was made known in a statement by the CBN, saying that Cardoso made this commitment while hosting the ‘Impact Investing Community’, led by former CBN governor and the 14th Emir of Kano, Muhammadu Sanusi II.

According to Cardoso, he and his CBN team were determined to curtail rising inflation.

He noted that at the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives. The community represents a great future for Nigeria with the potential to transform the nation’s economy.

Cardoso assured that the apex bank would collaborate with them in the direction of putting in place frameworks that would encourage investments.

Mr Sanusi in his speech, said the CBN’s activities had a massive impact on the lives of Nigerians, as he believes many people do not know the impact of a central bank’s work until it fails.

He urged the new leadership at the CBN to work persistently at driving down the inflation rate, which he said had severely impacted the wealth of individuals.

The former emir also acknowledged the importance of long-term planning by the CBN in achieving its goals. He emphasised the need for the fiscal authorities to focus on agriculture and education, especially for the girl child.

The ex-CBN chief pledged his continued support, along with the community, to the bank in achieving its goals.

Ibukun Awosika, the chairwoman of the community, Ibukun Awosika, said that the team was at the CBN to register its willingness to support the apex bank.

Ms Awosika said the organisation would support the authorities in changing Nigeria’s investment climate by redirecting resources to areas where they will make the most positive impact.

According to her, over $200 trillion were available around the globe as investment funds, with Impact Investing controlling one trillion dollars of that sum.

She further said that the community, with a presence in over 41 countries, was willing to blend with traditional investment practitioners to make an impact in the country.

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