The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has restated his commitment to the core mandate of ensuring price stability within the nation. In a recent interaction with the Impact Investing Community, led by the 14th Emir of Kano, Muhammadu Sanusi II, who is a former Governor of the CBN, Cardoso shared his vision for the central bank’s role in the lives of Nigerians.
Cardoso expressed his determination to change the narrative surrounding the CBN by making it more impactful in the lives of the citizens through the effective management of inflation. He stated, “At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.”
The CBN Governor emphasized the transformative potential of the Impact Investing Community and its capacity to shape Nigeria’s economic future. Cardoso assured the visiting delegation of the CBN’s willingness to collaborate with them in developing frameworks that encourage investments.
Muhammadu Sanusi II, in his remarks, highlighted the significant impact of the CBN’s activities on the lives of Nigerians. He noted that often the true value of a central bank’s work becomes evident when a central bank faces challenges. Sanusi urged the new CBN leadership to persistently work towards reducing the inflation rate, which has taken a toll on individuals’ wealth.
Sanusi acknowledged the importance of long-term planning in achieving the CBN’s goals and underlined the need for fiscal authorities to prioritize agriculture and education, particularly for the girl-child. He pledged continuous support, along with the Impact Investing Community, to the CBN in the pursuit of its objectives.
Chairperson of the Impact Investing Community, Mrs. Ibukun Awosika, conveyed the group’s readiness to support the CBN. She shared the organization’s commitment to enhancing Nigeria’s investment climate by directing resources towards areas where they can have the most positive impact. Awosika revealed that over 200 trillion dollars are available globally as investment funds, with Impact Investing controlling one trillion dollars of that sum. The organization, with a presence in over 41 countries, is eager to collaborate with traditional investment practitioners to make a substantial impact in Nigeria and sought the CBN’s support to achieve this goal.
Dr. Bala Bello, CBN’s Deputy Governor for Corporate Services, underscored the importance of investment, emphasizing that global capital is increasingly shifting toward social investment. He stressed that collaboration and effective communication are pivotal in successfully addressing the current challenges within the country.
