The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says himself and his team are not responsible for the current economic woes in the country.
This was made known by Cardoso while answering questions from journalists at the Monetary Policy Committee (MPC) meeting of the apex bank, on Tuesday, February 27, 2024, in Abuja, the first since he assumed office in September 2023.
Cardoso, however, said the CBN is taking the necessary steps to get the country’s fiscal and monetary health back to normal.
He said the current management of the CBN assumed responsibility at a time of crisis of confidence, adding that efforts being made to redress this are beginning to yield results.
We need to do the difficult thing to make things better
While responding to a question that the CBN was responsible for the current economic challenges faced by Nigerians, Cardoso said,
- “I laugh at that question but it’s not a laughing matter,” Cardoso retorted. “And I think it is very important for Nigerians to understand that the Central Bank Governor — I and my team — are not responsible for the woes that we have today; we are part of the solution.
- “We are determined to ensure that we work hard to get out of the mess that Nigeria is in. We assumed responsibility in a time of crisis of confidence; there was a crisis of confidence and you may all want to go to bed and wish that crisis of confidence was not there but it was, and we can’t turn back the clock.
- “All we can do is do the difficult things to make a bad situation better and I do believe that the efforts that we are making are beginning to bring back confidence because to be frank, without confidence in your business, you are not going to get far.”
