Cardoso Pledges Conducive Atmosphere for Investment
By Patience Ikpeme
Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has shared his vision of how he plans to manage the economy.
He has also confirmed that arrangements are currently being made for the formal unveiling of his agenda for the monetary and financial sector.
Addressing investors who visited him in his office in Abuja on Thursday, Mr. Cardoso emphasized the CBN’s commitment to address distortions and create a favorable environment for all types of investors.
He specified that his team will prioritize liquidity management by addressing underlying structural issues that caused the liquidity challenge.
The CBN will employ various tools, such as adjusting interest rates, buying/selling government securities, and setting reserve requirements for banks, to manage liquidity effectively.
The objective is to ensure sufficient money supply to support economic growth and stability while preventing inflation and financial crises.
Mr. Cardoso also highlighted the importance of data-driven decision-making and adherence to transparent rules for monetary policy.
He assured of the collaboration and alignment of the monetary and fiscal authorities in managing interest rates and inflation, while remaining open to differing perspectives.
Furthermore, he stated that the CBN would offer strategic policy support to critical sectors, allowing experts from relevant agencies to lead in those areas.
The investors, led by Mrs. Ireti Samuel-Ogbu, said their visit’s purpose was to explore opportunities to enhance cooperation for boosting foreign investment in Nigeria.
They also stressed the importance of the CBN’s autonomy and the need to strengthen the country’s foreign reserves, among other matters.
