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I’m Not Responsible For Nigeria’s Economic Woes – CBN Governor, Cardoso

Posted by Amarachi on Tue 27th Feb, 2024 - tori.ng

The apex bank boss, however, said the CBN is taking the necessary steps to get the country’s fiscal and monetary health back to normal.

Yemi Cardoso

Olayemi Cardoso

Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has stated that he is not responsible for the current economic woes in the country.

Cardoso made this known on Tuesday in Abuja at the first Monetary Policy Committee (MPC) meeting since he assumed office in September 2023.

While responding to a question on whether CBN is responsible for the current economic challenges faced by Nigerians, Cardoso said that he and his team are part of the solution to problems.

The apex bank boss, however, said the CBN is taking the necessary steps to get the country’s fiscal and monetary health back to normal.

He said, “I laugh at that question, but it’s not a laughing matter, 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.”



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