Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has dismissed allegations of being the cause of Nigeria’s current economic difficulties.
He clarified this during the first Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, his first since taking office in September 2023.
In response to a query about the CBN’s role in Nigeria’s economic issues, Cardoso emphasized that he and his team are working towards solutions, not contributing to the problems.
Cardoso, the head of the apex bank, assured that the CBN is implementing necessary measures to restore the country’s fiscal and monetary stability.
He stated, “The question might seem amusing, but it’s a serious matter. It’s crucial for Nigerians to comprehend that the Central Bank Governor — myself and my team — are not the cause of today’s difficulties; we are part of the solution.
“We are committed to working diligently to extricate Nigeria from its current predicament. We took charge during a crisis of confidence. There was a crisis of confidence, and while everyone might wish it didn’t exist, it did, and we can’t rewind time.
“All we can do is undertake the challenging tasks necessary to improve a bad situation. I am confident that our efforts are starting to restore confidence because, frankly, without confidence in your business, you won’t get far.”
