Cardoso assures youths CBN will sustain economic stability, transparency

By Babajide Komolafe, Economy Editor

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured Nigerian youths that the apex bank will remain committed to sustaining economic stability and transparency as part of efforts to rebuild trust in the nation’s financial system.

Speaking at the inaugural CBN Governor’s Lecture held at Lagos Business School, Mr Cardoso described credibility as the “most valuable currency” in central banking. He recalled that upon assuming office in 2023, the CBN faced a backlog of over $7 billion in verified foreign exchange obligations. Despite the difficulty, the bank cleared the debt after a forensic audit.

“We could not afford to ignore commitments. If we expect investors to trust us and support our economy, we must keep our promises,” he said.

Cardoso also pointed to new transparency measures such as publishing audited external reserves, releasing the bank’s financial statements, and holding live post-MPC briefings.

According to him, these steps have restored investor confidence and strengthened market stability.

He urged young Nigerians to embrace integrity, innovation, and courage in leadership, stressing that their generation will determine the country’s economic future.

“For us at the Central Bank, credibility is everything,” Cardoso declared.

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