Don’t ‘Japa’, CBN is building an economy for everyone to thrive , Cardoso tells Nigerians

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has urged Nigerians to reconsider emigrating, popularly referred to as "Japa." He assured citizens that the CBN is actively working to create an economy where individuals and businesses can prosper.

Speaking during his keynote address at the 59th annual Bankers Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso discouraged leaving the country at this time, citing two main reasons. “Firstly, those who sell off their assets before leaving often do so at undervalued prices, allowing opportunistic buyers to profit when the economy improves. Secondly, we all need to be part of the solution to rebuild Nigeria,” he said.

Cardoso highlighted the growing interest from international investors in Nigeria, emphasizing that citizens should seize these opportunities instead of leaving. “Investors recognize the potential in the Nigerian market. We, who are here, must position ourselves to benefit from the brighter future ahead,” he added. While acknowledging the hardships brought on by current economic reforms, he explained that these measures aim to address immediate challenges and secure long-term growth. “We are working to build an economy where every individual, business, and community can thrive,” Cardoso affirmed.

He also called for collective effort, stressing that collaboration among banks, regulators, businesses, and citizens is essential to achieving this vision. “This goal cannot be realized by one institution alone. It requires the steadfast commitment of everyone,” he concluded.