Policies must impact lives of average Nigerians, says Cardoso

The Central Bank of Nigeria Governor, Olayemi Cardoso, has emphasised the need for policies to positively impact the lives of average Nigerians.

Speaking at the 2024 Business Day CEO Forum in Lagos on Thursday, Cardoso stated that policymakers have a duty to create policies that foster a stable and prosperous economic environment for all Nigerians.

“Whatever we do must impact the average man on the street,” he declared.

According to a statement shared with our correspondent on Friday, the apex bank governor stressed the importance of transparency and trust in maintaining a resilient financial system and rebuilding trust in the international market and with foreign investors.

Cardoso highlighted the CBN’s efforts in building trust and ensuring a transparent system through its collaborative relationship with the Fiscal Authority.

He noted that the CBN’s policy statement is tailored to address concerns raised by Nigerians in different economic sectors.

The Governor also addressed the ongoing bank recapitalization program, stating that the CBN aims to encourage banks to focus on raising fresh capital from external sources.

“Retained earnings are easily determinable and help for comparability. We must move to a more transparent system within the banking system,” he said.

He emphasised the importance of transparency within the banking system.

The forum featured presentations and panel discussions on leadership and innovation, including “Thriving in an Age of Continuous Reinvention” and “Leadership for the Next Century: Global Trends and Insights for Nigeria”.

The event brought together global leaders and thinkers to share their insights and drive forward the conversation on leadership and innovation.

In his opening remarks, BusinessDay Media Limited CEO, Frank Aigbogun, stated that the forum’s mission is to address economic and development growth challenges in the economy.

He highlighted the importance of leadership and innovation in driving growth and progress.

The event featured a fireside chat with Cardoso, where he fielded questions from Aigbogun and addressed various issues, including the CBN’s efforts to tame inflation and build trust in the economy.

He emphasised the need for policymakers to focus on improving the socio-economic environment in which ordinary Nigerians operate.