CARDOSO ASSURES YOUTHS CBN WILL SUSTAIN ECONOMIC STABILITY, TRANSPARENCY
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By Sunmisola Shodayo
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured the youth of Nigeria that the central bank will remain dedicated to fostering economic stability and transparency as part of its initiatives to restore trust in the nation’s financial system.
During the inaugural CBN Governor’s Lecture hosted at the Lagos Business School, Mr. Cardoso characterized credibility as the “most prized currency” in central banking. He recalled that upon taking office in 2023, the CBN contended with an accumulation of over $7 billion in validated foreign exchange obligations. Despite the challenge, the bank resolved the debt following a forensic examination.
“We could not afford to ignore commitments. If we expect investors to trust us and support our economy, we must keep our promises,” he stated.
Cardoso also highlighted new transparency initiatives such as the publication of audited external reserves, the release of the bank’s financial statements, and the conduct of live post-MPC briefings.
He noted that these measures have reinstated investor confidence and bolstered market stability.
He encouraged young Nigerians to embrace integrity, innovation, and bravery in leadership, emphasizing that their generation will shape the country’s economic future.
“For us at the Central Bank, credibility is everything,” Cardoso asserted.
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