The Governor of Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, says that credible policies, transparent markets, and good governance have restored investors’ confidence in the Nigerian financial system.
Speaking at the opening of the annual CBN Executive Policy Seminar in Abuja, Cardoso stated that nobody has the monopoly of the economy,
This economy belongs to all of us,” he declared, adding that the progress so far achieved in the past two and a half years, amid bold reforms, should be protected.
He noted that the general attitude of “I am fine; others can sort themselves out” will not sustain growth and that systemic weaknesses affect everyone.
According to him, a situation where the country had a “frightening Ways and Means to GDP ratio should never happen again”.
“We must avoid indiscriminate interventions that yield little result. We cannot sit back and assume that someone else will fix it — this economy belongs to all of us,” he said.
“That is why we hold events like this — not because we simply like to talk, but because we must continue to educate, to engage, and to ensure that we stay on course. I have no doubt that Nigeria is moving in the right direction. We will get there — but we must remain focused, disciplined, and united in our resolve.
“We must defend what is ours and safeguard the interests of future generations. This is a collective effort. We must all contribute to baking a bigger pie — expanding our GDP relative to our population,” he said.
He reaffirmed the apex bank’s commitment to credible policies, transparent markets, and sound governance – all of which had helped to restore investor confidence in the financial system since he assumed office in 2023.
Cardoso also said that price stability remained central to CBN’s policy framework, anchored on inflation targeting, stating that credible inflation-targeting regime enhances predictability, guides market expectations, and anchors long-term investment.
“Investors avoid uncertainty — the greater the predictability, the stronger the incentive to invest. Once you get the fundamentals right, investors naturally gravitate toward your market.
“Boosting local production and industrial competitiveness is equally crucial. Collaboration with fiscal authorities to reduce costs and incentivize production remains a key imperative,” he added.
GIK/APA