Cardoso: CBN will ensure policies impact Nigerians positively

Yemi Cardoso, governor of the Central Bank of Nigeria (CBN), says under his leadership, the financial regulator will ensure policies have a positive impact on the lives of Nigerians.

According to a statement on Sunday, Cardoso spoke while playing host to an impact investing community, led by Sanusi Lamido Sanusi, former emir of Kano.

Addressing the team, Cardoso said he and his team were determined to change the narrative of the bank and ensure the lives of Nigerians are impacted positively by curtailing inflation.

The CBN governor said one major priority of the current leadership is to focus mainly on the core mandate of price stability.

“At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives,” he said.

Cardoso also thanked the impact investing community for visiting the central bank.

He said the community represents 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.

The economist also assured the community 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, Sanusi said the bank’s activities has had a massive impact on the lives of Nigerians.

According to the ex-CBN governor, many people are oblivious to “the impact of a central bank’s works until a central bank fails”.

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

‘FISCAL AUTHORITIES SHOULD FOCUS ON AGRICULTURE, EDUCATION’

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

Sanusi, therefore, pledged his continued support, along with the impact investing community, in helping the CBN achieve its objectives.

Also speaking, Ibukun Awosika, chair of Impact Investing, said the purpose for visiting the CBN, was to register their willingness to support what the apex bank and the federal government are doing in terms of changing Nigeria’s investment climate by redirecting resources to areas where they will make the most positive impact.

According to Awosika, over $200 trillion is available around the globe as investment funds, with $1 trillion of the amount from impact investing.

“Impact Investing, with a presence in over 41 countries, is willing to blend with traditional investment practitioners to make an impact in the country,” Awosika said.

She also said the support of the CBN is necessary to enable the body to achieve its goal.