The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has urged Nigerian youth to reconsider leaving the country, stressing that the ongoing reforms and policies are designed to benefit everyone and promote economic development.
He made the call during his keynote address at the 59th Annual Banking Dinner of the Chartered Institute of Banking in Nigeria (CIBN) in Lagos.
Cardoso emphasized that the central bank’s decisions are made with the best interests of the Nigerian people in mind and reassured the audience that the bank would continue to strengthen its internal processes to ensure they are driven by evidence-based analysis.
He warned against the current trend of leaving the country, commonly referred to as “JAPA”, for two main reasons. First, he explained that those who choose to leave may be forced to sell their assets at low prices, leaving them vulnerable to exploitation by offshore buyers looking for deals.
Secondly, Cardoso urged young people to be part of the solution, noting that the country needs everyone’s contribution during this critical period.
He stressed that despite the challenges, there are growing opportunities in Nigeria, with great interest from foreign investors looking to acquire assets in the country. Cardoso encouraged Nigerians to stay in the country, participate, and help drive the positive changes to come.
He acknowledged the difficulties caused by the reforms, and stressed that they are necessary to address current challenges and secure a prosperous future, where everyone can benefit from a prosperous economy.
