Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has appealed to Nigerian youths to remain in the country, assuring them that the ongoing economic reforms are designed to benefit everyone and promote national development.
Cardoso made this appeal during his keynote address at the 59th Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. He emphasized that the CBN is committed to creating a thriving economic environment for businesses and individuals.
“I want to assure you that every decision we make at the Central Bank is aimed at serving the best interest of the people. We are strengthening our internal processes to ensure they are grounded in evidence-based analysis,” he said.
He discouraged the trend of “japa”—a slang for emigration—urging young Nigerians to stay and contribute to the nation’s progress. “It is not a good idea to leave at this stage,” he stated, outlining two key reasons:
“First, those leaving will likely sell off their assets at undervalued prices. Predators, waiting for such bargains, will acquire these assets and later profit immensely when the economy rebounds.
“Second, you should be part of the solution. This is a critical time when all hands are needed on deck. There are opportunities in the market today. Over the past year, and especially in the last six months, I’ve witnessed significant foreign interest in Nigeria. They see the opportunities, and so should we.”
Cardoso acknowledged the difficulties posed by the ongoing reforms but maintained that they are necessary steps toward building a resilient economy.
“These reforms address current challenges while securing future opportunities. Our goal is to build an economy where every individual, business, and community can thrive,” he said.
He further stressed the importance of collaboration, adding, “This vision cannot be achieved by the Central Bank alone. It requires collective effort from banks, regulators, businesses, and citizens. Together, with unwavering resolve, we can create a brighter future for Nigeria.”
