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CBN will focus on core mandate under new leadership –Cardoso

Dr. Olayemi Cardoso, Governor of CBN

*Dr. Olayemi Cardoso, Governor of the Central Bank of Nigeria, says his leadership of the banking sector regulator is determined to change the extant narrative about the Bank, and make it more impactful by curbing inflation and improving the lives of Nigerian consumers

Isola Moses | ConsumerConnect

The new leadership at the Central Bank of Nigeria (CBN) will focus on the core mandate of the banking sector regulator in the West African country.

ConsumerConnect learnt Dr. Olayemi Cardoso, Governor of CBN, stated this while playing host to Impact Investing Community, led by the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi Order of Nigeria and neighbouring countries, Muhammadu Sanusi II, a former CBN Governor.

Cardoso said he and his team at the helm of affairs were determined to change the current narrative about the Bankers’ Bank, and make it impactful in the lives of Nigerian consumers by curtailing inflation.

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

Cardso also commended the Impact Investing Community for the visit. The CBN Governor noted that the community represents an excellent future for Nigeria, and has potential to transform the country’s economy by tapping into investment opportunities, agency report said.

The CBN Chief as well applauded the quality of leadership at Impact Investing Community, its effort at creating awareness and building partnerships.

He assured them and other Nigerians of the Bank’s collaboration to encourage investments that contribute to economic growth in Nigeria.

Sanusi Lamidi Sanusi Former Emir of Kano and erstwhile Governor of Nigeria, in his remarks expressed happiness at visiting new CBN Governor  Cardoso.

On high inflationary rate on economy

Sanusi, however, expressed concern over the current hyperinflation and it’s overbearing effects on Nigerian consumers in the economy.

The former Emir of Kano urged the new leadership at CBN to drive down the rate, which he said, has severely impacted the wealth of individual consumers in the West African country’s economy in recent times.

He equally acknowledged the importance of long-term planning by CBN in achieving its goals, as he emphasised the need for fiscal authorities to focus on agriculture and education, especially for the girl-child.

Sanusi further pledged his support, alongside Impact Investing Community, for  the CBN to achieve its set goals.

Speaking at the meeting, Mrs. Ibukun Awosika, Chairman of Impact Investing Community,  said that they visited the CBN to register their willingness to support what the apex financial institution and the Federal Government are doing about changing Nigeria’s investment climate by redirecting resources to areas where they would make the most impact in the lives of consumers.

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