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The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has urged Nigerians to reconsider the growing trend of relocating abroad, popularly known as “Japa.”
He reassured citizens that the apex bank is actively working to create an economic environment where individuals and businesses can prosper, emphasizing the potential for growth and opportunities within the country.
During his keynote address at the 59th annual Bankers’ Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Mr. Olayemi Cardoso, Governor of the Central Bank, called on Nigerians to remain optimistic about the nation’s future. He underscored the CBN’s resolve to create an enabling environment where everyone, including businesses, can succeed.
He said: “It is not a good idea to japa at this stage.
“Two reasons. One, those who may decide they are going to do that, they will sell and get rid of their assets.
“You’ll be doing it for cheap. Predators, who are outside looking for bargains, will come and take it and pocket it, put it in their pocket and wait for the turnaround and sell it away.
“Number two, you want to be part of the solution. You want to be part of the solution, and this is time that we need all hands on them.
“There are opportunities in the market today, which I must say, from my experience over the past year and also for the past six months, a lot of interest from the outside in what is going on in Nigeria
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“In taking positions in certain assets, so they see the opportunity, and we, who are here, should be part of the solution for the better things which will come.”
Cardoso acknowledged the difficulties Nigerians face as a result of the reforms but emphasized their importance in addressing immediate challenges while setting the stage for a more promising future. He highlighted the Central Bank’s mission of crafting an economic environment where every citizen and business can flourish.
He said: “We are building an economy where every individual, every business, and every community can thrive.
“This vision will not be achieved by one institution alone. It requires all of us — banks, regulators, businesses, and citizens — to work together with steadfast resolve”
