By Babajide Komolafe, Economy Editor
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has pledged to Nigerian youths that the institution will continue prioritizing economic stability and transparency as key pillars in restoring confidence in the country’s financial system.
Addressing attendees at the first-ever CBN Governor’s Lecture at Lagos Business School, Cardoso emphasized that trustworthiness is the “most precious asset” in central banking. Reflecting on his tenure beginning in 2023, he highlighted the challenge of managing a backlog exceeding $7 billion in confirmed foreign exchange liabilities. Through meticulous forensic audits, the bank successfully resolved these outstanding obligations.
“Honoring our commitments is non-negotiable. To attract and maintain investor confidence, we must demonstrate reliability,” he asserted.
Cardoso further outlined several initiatives aimed at enhancing transparency, including the publication of audited foreign reserves, the regular release of the bank’s financial reports, and conducting live briefings following Monetary Policy Committee meetings.
He noted that these transparency efforts have played a crucial role in rebuilding investor trust and fostering a more stable market environment.
Encouraging young Nigerians to lead with integrity, creativity, and boldness, Cardoso stressed that the nation’s economic destiny rests in their hands.
“At the Central Bank, our foundation is credibility,” he concluded.