L-R: Chairperson, Impact Investing Advisory Board, Ibukun Awosika, with Khalifa Muhammadu Sanusi II, CBN governor, Olayemi Cardoso, Governor; CBN Deputy Governor, Corporate Services, Dr Bala Bello, and CBN Deputy Governor, Operations, Emem Usoro, in Abuja.
The Central Bank of Nigeria (CBN) will continue to focus on its core mandate of price stability in its effort to drive investment and boost the growth of the economy, its governor, Olayemi Cardoso, has said.
Cardoso reiterated the commitment of the apex bank under his leadership while hosting a former Governor of the CBN, Muhammadu Sanusi II.
Sanusi who 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi Order of Nigeria and the neighbouring countries, led the Impact Investing Community to the meeting.
Cardoso told the visiting team during the meeting in his office that the CBN was determined to change the narrative about the challenges the Bank was facing and make more impactful strides in the lives of Nigerians by curtailing inflation.
The CBN governor insisted that under his leadership the Bank would ensure that at the end of the present administration’s tenure, “we want to look back and see that our policies have positively impacted people’s lives.”
He thanked Khalifa Sanusi and his Impact Investing Community for visiting the CBN, noting that the community represented an excellent future for Nigeria and has the potential to transform the country’s economy by tapping into the investment opportunities available across the country and the world.
While commending the quality of leadership at Impact Investing Community and its effort to create awareness as well as build partnerships, the CBN Governor assured them that the apex Bank would collaborate with them in the direction of putting in place frameworks that would encourage investments that would positively influence the lives of Nigerians and contribute to economic growth.
In his remarks, Khalifa Sanusi expressed happiness at visiting the new CBN Governor, adding that the Bank’s activities have a massive positive impact on the lives of Nigerians.
“Many people often do not know the impact of a Central Bank’s works until a Central Bank fails,” the former CBN governor said.
While expressing concerns about the spiralling inflation rate in the economy, Sanusi urged the new leadership at the CBN to work persistently at driving down the rate, which he noted had severely impacted negatively the wealth of individuals.
He also acknowledged the importance of long-term planning by the CBN in achieving its goals, just as he emphasised the need for the fiscal authorities to focus on the development of key sectors of the economy like agriculture and education, as well as paying special attention for the girl-child.
Khalifa Sanusi, therefore, pledged his continued support, along with the Impact Investing Community, to the CBN in achieving its goals.
Also speaking, the Chair of Impact Investing, Ibukun Awosika, said they were at the CBN to register their willingness to support what the Bank and the Federal Government were doing in terms of changing Nigeria’s investment climate, by redirecting resources to areas where they would make the most positive impact.
Awosika said out of over $200 trillion available around the globe as investment funds, only $1 trillion was with impact investing.
She further stated that Impact Investing, with a presence in over 41 countries, was willing to blend with traditional investment practitioners to make an impact in Nigeria.
While stressing the importance of social investment, Awosika sought the support of the CBN to enable the body to achieve its goal.
Also speaking during the meeting, the Deputy Governor of CBN in charge of Corporate Services, Bala Bello, underscored the importance of investment in any economy, saying that global capital was moving towards social investment.
He thanked the team for its support, noting that collaboration and effective communication were vital to successfully navigating the current challenges in the country.