Nigeria must tackle finance professionals shortage for sector growth – Cardoso

Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), says it is important to address the scarcity of skilled professionals in finance-related fields in Nigerian universities for the sector’s future and growth.

He noted that the CBN was committed to developing the next generation of leaders in the financial and social sciences sectors.

He stated this during an engagement with Adeola Adenikinju, president/chairman of the Governing Council of the Nigerian Economic Society (NES), who led a team of NES officials and the Nigerian Economics Students Association (NESA), on a visit to the CBN head office in Abuja.

Cardoso considered the meeting a demand-driven conversation, which set the stage for a robust pipeline of talents that will drive Nigeria’s financial system strategy.

He stressed that special consideration should be given to creating opportunities for youths and providing them with tools to thrive in their respective sectors and make them globally competitive.

The apex bank governor noted the importance of communication, stating the need to simplify heavy economic concepts, which had always been challenging when communicating monetary policy. He noted the place of the young economists in demystifying the subject and giving it a better perspective.

While reaffirming the CBN’s readiness to work with NES and NESA and encourage significant female representation, Cardoso expressed optimism that the collaboration with the groups marked an essential step towards building a resilient and inclusive financial sector that thrives on talent, innovation, and diversity.

This sentiment, he noted, should instil hope in the sector’s future.

Adenikinju, president of the NES, emphasised the need for collaboration with the CBN. He also highlighted gaps in mentorship programmes, research support, internships, and communication through social media.

Bakre Israel Boluwatife, national president of the Nigerian Economics Students Association (NESA), expressed gratitude to the CBN governor and noted NESA’s eagerness to contribute to research on inflation and money supply.