Dray
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has urged Nigerians to reconsider leaving the country, popularly termed “Japa”. Speaking at the 59th Annual Bankers Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso assured that the CBN is committed to fostering an economy where businesses and individuals can thrive.
Cardoso’s Appeal to Nigerians
Cardoso emphasized the importance of collective effort in addressing Nigeria’s economic challenges.
- Reasons Against ‘Japa’:
- Asset Undervaluation: Those leaving might sell their assets at low prices, benefitting opportunistic buyers waiting for a market recovery.
- National Responsibility: He encouraged Nigerians to stay and contribute to the nation’s growth. “You want to be part of the solution, and this is the time we need all hands on deck,” he said.
- Opportunities in the Market:
Cardoso highlighted growing interest from foreign investors in Nigeria’s assets, describing this as a signal of the economy’s potential. “We, who are here, should be part of the solution for the better things which will come,” he added.
Economic Reforms and Vision
The CBN governor acknowledged the tough economic realities Nigerians face due to ongoing reforms but emphasized their necessity.
Key Objectives of the Reforms:
- Addressing immediate economic challenges.
- Securing future opportunities for individuals and businesses.
- Building a thriving economy for all sectors of society.
“This vision will not be achieved by one institution alone. It requires all of us — banks, regulators, businesses, and citizens — to work together with steadfast resolve,” Cardoso said.
Encouragement to Stay and Build
Cardoso called on Nigerians to seize current opportunities and collaborate in shaping the nation’s economic future. He reiterated that the ongoing reforms, while challenging, are designed to create an inclusive and prosperous economy.
“Stay and be part of the solution for a better Nigeria,” he concluded.
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