The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the bank’s commitment to addressing the issue of inflation in Nigeria. Mr. Cardoso expressed his determination to make a positive impact on people’s lives through effective policies during his tenure.
This announcement came as he welcomed the Impact Investing Community, led by the 14th Emir of Kano, Muhammadu Sanusi II, who is also a former CBN governor. Sanusi raised concerns about the persistently high inflation rate in Nigeria, emphasizing the negative impact it has had on individuals’ wealth.
Mr. Cardoso expressed gratitude to the Impact Investing Community for visiting the CBN, highlighting their potential to transform Nigeria’s economy by harnessing investment opportunities across the country. He pledged to prioritize the CBN’s core mandate of ensuring price stability while working with the community to create frameworks that promote investment and economic growth.
Khalifa Sanusi, in his remarks, acknowledged the profound impact of the CBN’s activities on the lives of Nigerians. He stressed the importance of maintaining a low inflation rate, which he believed would positively affect individuals’ economic well-being. Sanusi also emphasized the need for long-term planning and directed fiscal authorities’ attention toward agriculture and education, particularly for girls.
The Chair of Impact Investing, Mrs. Ibukun Awosika, expressed her organization’s commitment to supporting the CBN and the federal government in improving Nigeria’s investment climate. She noted the vast global investment funds available, with a significant portion dedicated to impact investing, which focuses on making a positive societal impact.
Dr. Bala Bello, the Deputy Governor in charge of Corporate Services, emphasized the growing importance of social investment in the global capital landscape. He expressed gratitude for the support from the Impact Investing Community and stressed the necessity of collaboration and effective communication to address current challenges in Nigeria.
In a related development, Dangote Cement Plc confirmed its commitment to Nigeria’s economy by repatriating over $576 million through various banks in Nigeria. The company also engaged in a $111 million cash swap arrangement with Ethiopian Airlines, saving the same amount that would have been paid by the Central Bank of Nigeria.
Dangote Cement accused BUA Group of spreading fake and misleading news about its foreign exchange transactions, asserting the genuineness of its investments in Nigeria and Africa. The company called for a thorough investigation of its foreign exchange transactions to dispel any doubts about their legitimacy. Dangote Cement’s investments in Africa are expected to boost foreign exchange earnings and stabilize the forex market, further contributing to the nation’s economic growth.
For more news visit https://arritoneconsult.com.ng/blog
For more educational post visit examhood.com.ng