CBN Governor Vows to Fight Inflation

CBN Governor Vows to Fight Inflation

The governor of Central Bank of Nigeria, Mr. Olayemi Cardoso, is determined to make a positive impact by reducing inflation. He wants to see that his policies have improved people’s lives.

Leadership Direction

Mr. Cardoso restated his commitment to curbing inflation while hosting the Impact Investing Community. The community was led by Muhammadu Sanusi II, the 14th Emir of Kano and former governor of the apex bank.

Concerns About Inflation

Sanusi expressed concerns about the high inflation rate in the country. He urged the new leadership at the CBN to work persistently to bring down the rate, which has negatively affected people’s wealth.

Collaboration for Economic Growth

Mr. Cardoso thanked the Impact Investing Community for their visit and acknowledged their potential to transform Nigeria’s economy. He pledged to focus on price stability and collaborate with them to encourage investments that contribute to economic growth.

Support from Khalifa Sanusi

Khalifa Sanusi emphasized the importance of the CBN’s work and urged them to continue their efforts to reduce inflation. He also highlighted the need for long-term planning and emphasized the importance of agriculture and education.

Support from Impact Investing Community

The Chair of Impact Investing, Mrs. Ibukun Awosika, expressed their willingness to support the CBN and the federal government in changing Nigeria’s investment climate. She highlighted the availability of global investment funds and the potential for impact investing to make a positive impact in the country.

Importance of Investment

Dr. Bala Bello, the deputy governor in charge of Corporate Services, emphasized the importance of investment and noted that global capital is moving towards social investment. He thanked the Impact Investing Community for their support and highlighted the importance of collaboration and effective communication.

“Nigeria’s Foreign money Outdoors Banks Hits N2.29 Trillion” “

Dangote’s Forex Repatriation

Dangote Industries Limited announced that it has repatriated over $576 million through various banks in Nigeria. They also saved $111 million through a cash swap arrangement with Ethiopian Airlines. Dangote reaffirmed its belief in Nigeria and called for an investigation into their foreign exchange transactions.

Visible Projects

Dangote clarified that the forex was utilized for visible projects, which were commissioned by government officials and covered by the media. They believe that their investments in pan Africa will lead to the repatriation of forex and boost foreign exchange earnings in Nigeria.

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