The Central Bank of Nigeria (CBN), under the leadership of Governor Mr. Olayemi Cardoso, has reaffirmed its commitment to prioritizing price stability as its primary focus.
This declaration was made during a meeting with the Impact Investing Community, which featured prominent guests, including the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order of Nigeria and neighboring countries, Muhammadu Sanusi II, who is a former Governor of the CBN.
Mr. Cardoso emphasized the central bank’s determination to reshape the CBN’s image and emphasize its impact on the lives of Nigerians by tackling 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.” This highlights the central bank’s dedication to ensuring that its policies lead to tangible improvements in the well-being of the country’s citizens.
Mr. Cardoso also expressed appreciation to the Impact Investing Community for their visit and recognized their potential to transform Nigeria’s economy by capitalizing on investment opportunities across the nation. He assured the community of the CBN’s commitment to collaborating with them to establish frameworks that promote investments contributing to economic growth.
In his remarks, Khalifa Sanusi acknowledged the substantial impact of the CBN’s activities on the lives of Nigerians. He raised concerns about the inflation rate and encouraged the new CBN leadership to persistently work on reducing this rate, which has had a significant impact on individuals’ wealth. He also emphasized the importance of long-term planning and the need for fiscal authorities to focus on agriculture and education, particularly for the girl-child.
Khalifa Sanusi pledged his continued support, along with the Impact Investing Community, to the CBN in achieving its goals. This collaborative effort between the CBN and influential stakeholders signifies a unified approach to addressing economic challenges and promoting growth in Nigeria.
Mrs. Ibukun Awosika, the Chair of Impact Investing, expressed their readiness to support the CBN and the federal government’s initiatives to enhance Nigeria’s investment climate. She stressed that Impact Investing, with its substantial global presence, is prepared to work alongside traditional investment practitioners to make a positive impact in the country. She also sought the support of the CBN to enable their organization to achieve its goals, particularly in the realm of social investment.
In addition to these key figures, the Deputy Governor in charge of Corporate Services, Dr. Bala Bello, highlighted the importance of investment and the global trend of capital moving toward social investment. He expressed gratitude for the support of the Impact Investing Community and underscored the significance of collaboration and effective communication in addressing the challenges faced by the country.
The meeting between the CBN leadership, the Impact Investing Community, and other stakeholders demonstrates a collective commitment to improving economic stability and creating positive impacts in Nigeria. With a focus on price stability and collaboration with influential partners, the CBN is poised to make a meaningful difference in the lives of Nigerians.