Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), addressed concerns regarding the country’s economic challenges during the monetary policy committee (MPC) meeting on Tuesday. Cardoso, who assumed office in September 2023, emphasized that he and his team are committed to resolving the current fiscal difficulties. He clarified that the current management inherited the responsibility during a period of widespread lack of confidence.
Asserting their determination to navigate Nigeria’s economic challenges, Cardoso stated, “We are not responsible for the woes that we have today; we are part of the solution.” He highlighted ongoing efforts by the CBN to restore fiscal and monetary stability, noting that initial progress is evident.
Cardoso underscored the importance of regaining public confidence, stating, “Without confidence in your business, you are not going to get far.” Additionally, he assured stakeholders of the management team’s dedication to transparency and openness in decision-making processes.
