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CBN Governor, Cardoso, Denies Responsibility for Nigeria’s Economic Hardships

CBN Governor, Cardoso, Denies Responsibility for Nigeria's Economic Hardships

Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has emphasized that he and his team cannot be held accountable for the current economic difficulties faced by Nigerians.

Speaking after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, Cardoso reassured the public that the apex bank is actively taking measures to restore the country’s fiscal and monetary stability.

When asked about the CBN’s policies and their impact on the country’s economic challenges, Cardoso responded, “I find that question amusing, but it is a serious matter. It is crucial for Nigerians to understand that the Central Bank Governor, along with my team, is not to blame for the predicament we are facing today. Instead, we are part of the solution.”

He further stated, “We are determined to work diligently to overcome the difficulties that Nigeria is currently experiencing. We assumed responsibility during a time of confidence crisis. While we may wish that such a crisis had not occurred, we cannot turn back time. Our focus now is to implement necessary measures to improve the situation.”

Cardoso acknowledged the importance of rebuilding confidence, remarking, “The efforts we are making are starting to restore confidence. Without confidence in your business, progress becomes challenging. Therefore, we are committed to undertaking the difficult tasks that will lead to a better outcome.”

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Blessing Temi

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