- Governor Olayemi Cardoso assured investors that the CBN would address distortions and create a conducive environment for investment
- The CBN’s new management will focus on addressing liquidity constraints in the foreign exchange market while prioritizing credibility and transparency
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has stated that the apex bank will do everything within its statutory functions to address identified distortions and ensure a conducive environment for various categories of investors.
He gave the assurance yesterday during a courtesy visit from a group of investors.
Cardoso stated that the bank’s new management team would do everything possible to address liquidity constraints in the foreign exchange market under his leadership.
He emphasized the importance of credibility and transparency in implementing the Bank’s monetary policy while revealing plans to unveil his agenda for the monetary and financial sectors in the coming days.
He stated that the Bank would strengthen its data collection system to ensure that only verifiable data is used to make evidence-based decisions.
He said the CBN would follow well-known, acceptable, and transparent monetary policy rules.
In addition, he stated that his team’s short-term goal was to address structural issues within the financial system that caused the liquidity challenge in the first place.
The investors, led by Mrs. Ireti Samuel-Ogbu, stated in their remarks that they were at the CBN to discuss ways to strengthen collaboration to increase foreign investment in Nigeria.
Senate Confirms Yemi Cardoso As CBN Governor
The Senate has confirmed the nomination of Dr Olayemi Cardoso as governor of the Central Bank of Nigeria (CBN).
Cardoso’s confirmation was announced after his screening by the Senate on Tuesday, September 27.
Cardoso was screened alongside four nominees for the positions of CBN Deputy Governors, to steer affairs of the apex bank in the next five years.
The deputy governors include: Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
Discussion about this post