CBN Governor, Cardoso Pledges To Address Inflation

Olayemi Cardoso, the newly appointed governor of the Central Bank of Nigeria (CBN), has outlined his commitment to tackling inflation during his tenure. He assumed this leadership role after the suspension of the former CBN Governor, Godwin Emefiele, by President Bola Tinubu. Cardoso expressed his determination to make a positive impact by addressing the issue of inflation in the country, with the goal of improving the lives of the Nigerian people.

Cardoso’s commitment to combating inflation was reiterated during a meeting with the Impact Investing Community, which was led by Muhammadu Sanusi II, the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order of Nigeria. Sanusi, a former CBN governor himself, expressed concern about the high inflation rate in the country and called on the new CBN leadership to work diligently to reduce it. He pointed out that inflation had significantly eroded the wealth of individuals.

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

In his remarks, Cardoso expressed gratitude to the Impact Investing Community for visiting the CBN. He acknowledged the community’s potential to play a pivotal role in transforming Nigeria’s economy by capitalizing on investment opportunities across the nation. Under Cardoso’s leadership, the CBN is committed to focusing primarily on its core mandate of ensuring price stability, which is crucial for economic prosperity and the well-being of the population.

Cardoso’s tenure as the CBN governor is marked by a strong dedication to curbing inflation, fostering economic stability, and leveraging investment opportunities for the betterment of Nigeria and its people. His vision is to leave a lasting positive impact on the country’s economy by implementing effective policies and measures during his leadership at the apex bank.