Former Central Bank of Nigeria Governor Lamido Sanusi has advised Olayemi Cardoso, the current governor of the top bank, to take calculated steps to lower the nation’s inflation rate.
The former Emir of Kano provided this guidance last week in Abuja while escorting the Impact Investing Community team to the CBN offices, according to a statement released on Sunday.
Sanusi said that the rate of inflation was hurting people’s wealth and encouraged the CBN’s new leadership to strive tirelessly to lower it.
He also agreed that the CBN’s long-term planning was essential to the organization’s success.
The former head of CBN emphasized that the fiscal authorities should prioritize education and agriculture, particularly for girls.
Sanusi stated “The Bank’s activities have a massive impact on the lives of Nigerians and many people often do not know the impact of a Central Bank’s works until a Central Bank fails. I urged the new leadership at the CBN to work persistently at driving down the rate, which had severely impacted the wealth of individuals,”.
Prior to this, Cardoso said that the bank will prioritize price stability as its primary purpose under his direction.
He insisted that his group was committed to altering the perception of the bank and increasing the central bank’s influence on Nigerians’ lives by reducing 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.”
In addition, Cardoso expressed gratitude to the Impact Investing Community for coming to the CBN, stating that the group represented a bright future for Nigeria and had the ability to revolutionize the nation’s economy by utilizing investment possibilities both domestically and internationally.
Cardoso gave the audience the assurance that the bank would work with them to establish frameworks that will encourage investments that will positively impact Nigerians’ lives and promote economic growth, all the while praising Impact Investing Community’s leadership and effort in raising awareness and forming partnerships.
Mrs. Ibukun Awosika, the Chairperson of Impact Investing, also spoke at the CBN, expressing the bank’s and the federal government’s willingness to support changes being made to Nigeria’s investment climate through the reallocation of resources to areas where they will have the greatest positive impact.
