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By Olusola Akintonde, November 6, 2023

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has emphasized the Bank’s dedication to the core mandate of price stability. He made this assertion during a meeting with the Impact Investing Community (IIC), led by the 14th Emir of Kano, Muhammadu Sanusi II, who is also a former Governor of the Central Bank of Nigeria.

Mr. Cardoso expressed his determination to change the perception of the Bank and make it more impactful in the lives of Nigerians by addressing the issue of inflation. He stated, “By the end of our tenure, we want to see that our policies have positively impacted people’s lives.”

Appreciating the visit of the Impact Investing Community to the CBN, Mr. Cardoso commended their efforts in creating awareness and building partnerships. He assured the community of the Bank’s collaboration in establishing frameworks that will encourage investments, leading to positive changes in the lives of Nigerians and contributing to economic growth.

In response, Khalifa Sanusi expressed his delight at visiting the new CBN Governor and emphasized the significant impact of the Bank’s activities on the lives of Nigerians. He urged the new leadership to persistently work towards reducing the inflation rate, which has had a detrimental effect on individuals’ wealth. Khalifa Sanusi also stressed the importance of long-term planning and urged the fiscal authorities to prioritize agriculture and education, especially for the girl-child. He pledged his continued support, along with the Impact Investing Community, in achieving the CBN’s goals.

The Chair of Impact Investing, Mrs. Ibukun Awosika, stated that their visit to the CBN was to demonstrate their willingness to support the Bank and the Federal Government in transforming Nigeria’s investment climate. She highlighted the availability of over $200 trillion in global investment funds, with $1 trillion specifically allocated to impact investing. She further emphasized the readiness of Impact Investing, with a presence in over 41 countries, to collaborate with traditional investment practitioners for positive change in Nigeria. Mrs. Awosika sought the support of the CBN in achieving their shared goals.

Dr. Bala Bello, the Deputy Governor of the CBN in charge of Corporate Services, stressed the importance of investment and the global shift towards social investment. He expressed gratitude to the Impact Investing Community for their support and emphasized the need for collaboration and effective communication to navigate the current challenges in the country.

The commitment of the CBN Governor to price stability, as well as the collaboration with the Impact Investing Community, highlights a concerted effort to drive economic growth and positively impact Nigerians’ lives. With continued collaboration and strategic investments, Nigeria’s investment climate may witness significant transformation in the coming years.