Don’t ‘Japa’, CBN Building Economy For Everyone To Thrive – Cardoso Begs Nigerians

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has made a heartfelt appeal to Nigerians to resist the temptation of leaving the country, urging them to stay and contribute to the ongoing efforts to build a resilient and thriving economy.

Delivering a keynote address at the 59th annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso acknowledged the challenges posed by recent economic reforms but assured that they were designed to secure long-term opportunities for both individuals and businesses.

“It is not a good idea to ‘japa’ at this stage,” Cardoso said, referring to the growing trend of Nigerians emigrating in search of better prospects abroad.

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He highlighted two key reasons for this advice. First, he warned that those who sold off their assets in the country to facilitate relocation would likely do so at a loss, making it easy for external investors to capitalize on the situation. “Predators, who are outside looking for bargains, will come and take it and pocket it,” he said.

Second, Cardoso emphasized that now is a critical time for Nigerians to be part of the solution to the country’s economic challenges. “You want to be part of the solution. We need all hands on deck, and this is a time to stay and help build for the future,” he added.

In his speech, Cardoso highlighted the increasing interest from foreign investors who see Nigeria’s current economic landscape as full of potential, particularly in strategic sectors.

He urged citizens to seize the opportunities unfolding in the country rather than abandoning it at this crucial juncture.

Reflecting on the severity of the reforms, the CBN governor reassured Nigerians that the measures, though tough, were necessary for creating a more stable and inclusive economy.

“We are building an economy where every individual, every business, and every community can thrive,” he stated.