Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has urged Nigerians, particularly the youth, not to leave the country, emphasizing the importance of staying to contribute to the nation’s economic development.
Speaking at the 59th annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso reassured the public that the CBN is focused on building an economy that will enable everyone and businesses to thrive.
In his keynote address, Cardoso cautioned against the current wave of emigration, known as “japa,” warning that it could have detrimental effects on individuals and the country as a whole. “It is not a good idea to japa at this stage,” he stated, explaining that those leaving might be forced to sell their assets at a loss, which could be exploited by external “predators” looking for opportunities to acquire valuable resources at bargain prices.
Cardoso also stressed the importance of Nigerians remaining within the country to be part of the solution to the nation’s challenges. “This is a time when we need all hands on deck,” he urged, highlighting the role that every citizen can play in strengthening the country’s future.
The CBN governor acknowledged that the nation has faced significant economic challenges, but he emphasized that the recent reforms, though tough, are necessary to secure the nation’s future.
These reforms are aimed at addressing the current problems while unlocking opportunities for sustainable growth, ensuring that Nigeria’s economy becomes one where everyone can prosper.
He pointed out that despite the challenges, the market is full of opportunities, with growing interest in the country both from within and outside. According to Cardoso, the coming years hold great promise, and those who stay will have the chance to benefit from the positive changes underway.
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