ABUJA, Nigeria (VOICE OF NAIJA)-The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has stated that the apex bank is making “steady progress” in stabilizing the foreign exchange market and addressing inflation.
According to a press statement issued by the CBN on Tuesday, Cardoso made this remark while receiving a delegation of scholars from the Harvard Kennedy School at the bank’s headquarters in Abuja.
The visit was part of the scholars’ Africa Trek, which also included a stop in Ghana.
The delegation comprised 50 students from 19 countries, with representatives from the Harvard Business School, Massachusetts Institute of Technology, and Stanford University.
It marked the first time a Harvard Africa Trek delegation had visited the Central Bank of Nigeria.
Addressing the scholars, Cardoso, an alumnus of the Harvard Kennedy School and the first African elected to the global HKS Alumni Board of Directors, reaffirmed the bank’s commitment to intellectual engagement and policy-driven solutions.
“As we reset the Bank, we are committed to being a hub for thought leadership. The exposure you gain from institutions like Harvard is invaluable, and we see this as an opportunity to build long-term alliances,” he said.
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He also acknowledged Nigeria’s recent economic challenges but noted that key indicators suggest improvements are underway.
Cardoso noted that ongoing reforms are beginning to bring “greater stability” to the foreign exchange market while also contributing to a gradual decline in inflationary pressures.
The statement read, “Addressing Nigeria’s economic landscape, Mr. Cardoso acknowledged recent challenges but highlighted progress in stabilizing the foreign exchange market and curbing inflation.”
He also pointed to recent visits by executives from JP Morgan, Citibank, and the International Monetary Fund as indicators of renewed investor confidence in Nigeria’s economy.
“These are individuals who base their decisions on data and trends, not sentiment. Their interest reaffirms that we are on the right path,” he added.
President of the Harvard Kennedy School Alumni Association of Nigeria, Adaora Ndukwe, and the HKS Nigeria Trek Delegation Lead, Ms. Sheffy Kolade, expressed gratitude to the CBN for hosting the students.
They praised the bank’s openness in engaging with future policymakers and offering them first-hand insights into Nigeria’s economic landscape.
According to the statement, the Africa Trek initiative aims to facilitate direct interactions between emerging global leaders and key policymakers on the continent.
It serves as a platform for in-depth discussions on governance, innovation, economic development, and the role of central banking in national progress.