Central Bank Governor Emphasizes Commitment to Price Stability Mandate
Central Bank Governor Emphasizes Commitment to Price Stability Mandate. Mr. Olayemi Cardoso, ( Governor of CBN) has reiterated his dedication to the core mandate of ensuring price stability within the Nigerian economy. This commitment was reaffirmed during a meeting with representatives from the Impact Investing Community, as reported by an official statement from the CBN.
The Impact Investing Community delegation was led by the former Governor of the CBN, the 14th Emir of Kano, Muhammadu Sanusi II. During the meeting, Cardoso emphasized his determination to reshape the narrative surrounding the CBN, making it more impactful in the lives of Nigerians by curbing inflation.
“Our goal is to look back at the end of our tenure and see that our policies have had a positive impact on people’s lives,” stated Cardoso, highlighting the central bank’s dedication to improving the economic well-being of Nigerians.
Cardoso also expressed his belief in the transformative potential of the Impact Investing Community, asserting that it could play a pivotal role in reshaping the nation’s economy. He assured the delegation of the CBN’s readiness to collaborate on creating frameworks that encourage investments.
In his remarks, Emir Muhammadu Sanusi II emphasized the significant influence of the CBN’s activities on the lives of Nigerians. He urged the new CBN leadership to focus on driving down the inflation rate, citing its profound impact on individual wealth.
Sanusi stressed the importance of long-term planning by the CBN and called for a heightened focus on agriculture and education, particularly for the girl-child. He pledged continued support, along with the Impact Investing Community, in achieving the CBN’s goals.
Chairperson of the Impact Investing Community, Mrs. Ibukun Awosika, conveyed the organization’s readiness to support the apex bank in its initiatives. She highlighted the substantial global investment funds available, with Impact Investing alone managing one trillion dollars of those resources. Awosika expressed the organization’s willingness to collaborate with traditional investment practitioners to maximize positive impact in Nigeria.
Awosika sought the support of the CBN in achieving their shared goals. Dr. Bala Bello, CBN’s Deputy Governor, Corporate Services, underscored the significance of investment, emphasizing that global capital was increasingly gravitating towards social investment. He emphasized the critical role of collaboration and effective communication in navigating the current challenges facing the country.