Price stability is the primary purpose of the Central Bank of Nigeria (CBN), and its governor, Mr. Olayemi Cardoso, has reaffirmed that the Bank will prioritise this goal while serving in his capacity.
He made this announcement while hosting the Impact Investing Community, which was chaired by Muhammadu Sanusi II, a former governor of the Central Bank of Nigeria and the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order of Nigeria and its neighbouring nations.
Speaking to the group in his office, Mr. Cardoso declared that he and his colleagues were committed to redefining the Bank’s reputation and increasing its influence on Nigerians’ lives by reducing inflation.
“At the end of our tenure, we want to look back and see that people’s lives have been positively impacted by our policies,” he stated.
In his remarks, Mr. Cardoso expressed gratitude to the Impact Investing Community for coming to the CBN, saying that the group represented a bright future for Nigeria and had the ability to completely change the nation’s economy by utilising the global network of investment opportunities.
The CBN Governor gave them the assurance that the Bank would work with them to establish frameworks that will encourage investments that will have a positive impact on Nigerians’ lives and promote economic growth, all the while praising the Impact Investing Community’s leadership and efforts to raise awareness and form partnerships.
Khalifa Sanusi said in his remarks that he was happy to meet the new governor of the CBN and that the Bank’s operations had a significant impact on Nigerians’ lives. He also mentioned that a lot of people frequently “do not know the impact of a Central Bank’s works until a Central Bank fails.”
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He acknowledged that the pace of inflation has negatively affected people’s wealth and asked the CBN’s new leadership to continue their efforts to reduce it, even as he voiced concerns about it.
The speaker recognised the need of long-term planning on the part of the CBN in accomplishing its objectives, and underscored the necessity for the fiscal authorities to concentrate on agriculture and education, particularly for girls.
Thus, in order to help the CBN achieve its objectives, Khalifa Sanusi promised to continue supporting it along with the Impact Investing Community.
Speaking as well, Mrs. Ibukun Awosika, Chair of Impact Investing, stated that the purpose of their visit to the CBN was to express their readiness to back the efforts being made by the Bank and the Federal Government to alter the investment climate in Nigeria by rerouting resources to areas where they will have the greatest beneficial influence.
She said that there were more than $200 trillion in investment money available globally, $1 trillion of which went towards impact investing.
She went on to say that Impact Investing, which is active in more than 41 nations, was open to collaborating with conventional investing professionals in order to have an influence in the nation.
She emphasised the value of social investment while requesting the CBN’s assistance in order to help the organisation accomplish its objective.
Dr. Bala Bello, the Deputy Governor in charge of Corporate Services, also spoke at the gathering and emphasised the value of investment, pointing out that capital was shifting globally towards social investment.
He expressed gratitude to the team for their assistance and pointed out that cooperation and clear communication were essential to overcoming the nation’s current problems.
