Don’t leave Nigeria – CBN Governor urges Youth to stay

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has urged Nigerians, particularly the youth, not to leave the country

He reassured them that the central bank is working towards creating an economy where everyone and every business can succeed.

Cardoso made this appeal during his keynote address at the 59th Annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.

He emphasized that leaving the country at this time is not advisable for two key reasons. First, those who decide to leave may be forced to sell their assets at low prices, which could be easily taken advantage of by external investors seeking bargains.

Second, he urged Nigerians to be part of the solution to the country’s challenges, as the nation needs collective effort to overcome them.

Highlighting the numerous opportunities in the market, he noted that there has been growing interest in Nigeria, especially over the past year and six months.

Despite acknowledging the tough impact of the reforms on Nigerians, Cardoso stressed that these changes are designed to address current challenges while positioning the country for a prosperous future, ensuring that everyone can thrive in the long run.

“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

“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.”

“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”