…Restates Apex Bank’s Focus On Price Stability
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated that under his leadership, the bank will remain fully committed to price stability, one of the core components of its statutory mandate.
Cardoso made this remark when he hosted a team from the Impact Investing Community, led by the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi Order of Nigeria and the neighbouring countries, Muhammadu Sanusi II, who is also a former Governor of the apex bank.
Addressing the team in his office, Cardoso said the new management of the apex bank was determined to change the narrative about the Bank and make the Bank more impactful in the lives of Nigerians by curtailing inflation.
He said: “At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.”
Expatiating further, the CBN governor thanked the team for the visit, noting that the community represented an excellent future for Nigeria and has the potential to transform the country’s economy by tapping into the investment opportunities available across the country and the world.
While commending the quality of leadership at Impact Investing Community and its effort to create awareness as well as build partnerships, he assured them that the bank would collaborate with them in the direction of putting in place frameworks that will encourage investments that will positively influence the lives of Nigerians and contribute to economic growth.
In his remarks, Khalifa Sanusi expressed happiness at visiting the new CBN Governor. He noted that the Bank’s activities had a massive impact on the lives of Nigerians, adding that many people often “do not know the impact of a Central Bank’s works until a Central Bank fails.”
While expressing concerns about the inflation rate, he urged the new leadership at the CBN to work persistently at driving down the rate, which he noted had severely impacted the wealth of individuals.
He also spoke the importance of long-term planning by the apex bank in achieving its goals, stressing the need for the fiscal authorities to focus on agriculture and education, especially for the girl-child.
Khalifa Sanusi, therefore, pledged his continued support, along with the Impact Investing Community, to the CBN in achieving its goals.
The Chairperson of Impact Investing, Mrs. Ibukun Awosika, said the team was at the CBN to express its willingness to support what the apex bank and the government were doing in terms of changing Nigeria’s investment climate by redirecting resources to areas where they will make the most positive impact.
According to her, over $200 Trillion was available around the globe as investment funds, with $1 Trillion of it with impact investing.
She further clarified that Impact Investing, with a presence in over 41 countries, was willing to blend with traditional investment practitioners to make an impact in the country.
While stressing the importance of social investment, she solicited the support of the CBN to enable the body to achieve its goal.
In his remarks, the Deputy Governor in charge of Corporate Services, Dr. Bala Bello, underscored the importance of investment, noting that global capital was moving towards social investment. He thanked the team for its support, noting that collaboration and effective communication were vital to successfully navigating the current challenges in the country.
Photo Caption
L-R: Mrs Ibukun Awosika, Chairperson, Impact Investing Advisory Board, Khalifa Muhammadu Sanusi II, Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria; Dr Bala Bello, the apex bank’s Deputy Governor, Corporate Services; and Ms Emem Usoro, CBN’s Deputy Governor, Operations, during a recent courtesy visit by Impact Investing Group to the management of the bank in Abuja
