The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has urged Nigerians to reconsider leaving the country, commonly referred to as “Japa.” He assured that the CBN is committed to building an economy where individuals and businesses can flourish.
Speaking during his keynote address at the 59th Annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso made a heartfelt appeal for Nigerians to stay and contribute to the nation’s development.
“It’s not the right time to Japa,” he stated, offering two reasons to support his viewpoint. “First, those who choose to leave often sell their assets cheaply, allowing opportunistic buyers to take advantage. These buyers wait for an economic turnaround, then profit significantly from assets sold at a loss.”
Cardoso stressed the importance of collective responsibility in rebuilding Nigeria. “Second, it’s crucial to be part of the solution. This is the time for all hands to be on deck. From my experience over the past year, and particularly the last six months, I’ve observed significant international interest in Nigeria’s market opportunities.”
He highlighted that foreign investors are keenly observing and investing in Nigeria’s potential, encouraging citizens to do the same. “International investors are identifying opportunities in key assets. As citizens, we must position ourselves to benefit from these prospects and contribute to a brighter future.”
While acknowledging the difficulties brought about by ongoing economic reforms, Cardoso emphasised that these changes are designed to tackle present challenges and lay the foundation for long-term prosperity. “Our goal is to build an economy where individuals, businesses, and communities can thrive,” he affirmed.
He concluded by underscoring the importance of collaboration in realising this vision. “Achieving this requires a united effort. Banks, regulators, businesses, and citizens must work together with unwavering determination to create a stronger, more prosperous Nigeria.”
