Lamido Sanusi, former Central Bank of Nigeria (CBN) Governor, has advised current Governor Olayemi Cardoso to implement strategic measures to combat rising inflation.
During a visit to the CBN headquarters last week, Sanusi stressed the importance of long-term planning and urged fiscal authorities to prioritise agriculture and education, particularly for girls. Inflation in Nigeria stood at 26.72 percent as of September 2023.
“The Bank’s activities have a massive impact on the lives of Nigerians, and many people often do not know the impact of a Central Bank’s works until a Central Bank fails. I urged the new leadership at the CBN to work persistently at driving down the rate, which had severely impacted the wealth of individuals,” Sanusi stated.
Cardoso pledged to prioritise the core mandate of price stability during his leadership at the CBN.
He expressed his determination to make the bank more impactful by curbing inflation and positively affecting people’s lives.
“At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.” He said.
Cardoso also welcomed the Impact Investing Community’s visit and collaboration, recognising their potential to transform Nigeria’s economy through strategic investments.
Acknowledging the effective leadership of the Impact Investing Community and their work in raising awareness and fostering partnerships, Cardoso pledged the CBN’s commitment to collaborating with them. Together, they aim to establish frameworks that promote investments benefiting Nigerians and fostering economic growth.
The Chairperson of Impact Investing, Ibukun Awosika, expressed their willingness to support the CBN and the Federal Government’s efforts in enhancing Nigeria’s investment climate.