CBN to focus on price stability
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has set out to change public perception and improve the country’s economic well-being.
In a meeting with the Impact Investing Community, CBN governor Mr. Cardoso expressed the bank’s determination to effectively manage inflation and positively impact people’s lives.
The CBN governor reiterated that under his leadership, the Bank will focus mainly on the core mandate of price stability, stressing that “at the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.”
Khalifa Sanusi, former Governor of the CBN, emphasized the importance of the bank’s activities and urged the new leadership to reduce inflation rates.
According to the Khalifa Sanusi, many people often “do not know the impact of a Central Bank’s works until a Central Bank fails.”
Worried about the current inflation rate, Sanusi urged the new leadership at the CBN to work persistently at driving down the rate, which he noted had severely impacted the wealth of individuals.
Mrs. Ibukun Awosika, Chair of Impact Investing, highlighted the availability of over $200 trillion in investment funds globally, with $1 trillion dedicated to impact investing.
Impact investing focuses on creating positive change while still expecting a financial return on investments.
The CBN’s Deputy Governor, Dr. Bala Bello, stressed the significance of collaboration and effective communication to overcome challenges.
The Impact Investing Community pledged its support to the CBN in achieving its goals.
