Former CBN governor Lamido Sanusi has sent an important message to the Governor of CBN, Yemi Cardoso. He is calling on the apex bank to find a solution to the rising inflation rate, which is now at over 17year-high.
The message from Sanusi was well received by Cardoso, and he replied with promises and provided his action plans
Lamido Sanusi, the former Governor of the Central Bank of Nigeria (CBN), has urged the current CBN Governor, Olayemi Cardoso, to tackle the increasing inflation. Sanusi gave this advice when he visited the CBN headquarters in the company of Ibukun Awosika, Chairperson of the Impact Investing Advisory Board.
During the visit, Sanusi also called for long-term planning and urged fiscal authorities to prioritise agriculture and education, particularly for girls. The former CBN governor’s call came at a time when inflation in Nigeria stood at 26.72 per cent as of September 2023.
Sanusi words: “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.” Cardoso replies Sanusi In response, 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., BusinessDay reports. He said: “At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.”
Cardoso also extended a warm welcome to the Impact Investing Community’s visit and collaboration, acknowledging their capacity to catalyze positive change in Nigeria’s economy through strategic investments.
In response, Ibukun Awosika expressed willingness to assist the CBN and the Federal Government in their initiatives to improve Nigeria’s investment climate. Yemi Cardoso unveils his plans as CBN Governor, promises shift From Emefiele’s Policies.
An earlier report by AttNews revealed that Cardoso has promised a policy shift in the future direction of the apex bank.
One of Cardoso’s plans is to shift CBN’s focus away from direct involvement in development finance initiatives, a hallmark of former Godwin Emefiele’s leadership.
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