“I bear no responsibility for the current challenges we face today,” declared the CBN governor, Cardoso.


During the first Monetary Policy Committee (MPC) meeting under his leadership on Tuesday, February 27, Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, addressed the economic challenges facing the country and emphasized that he and his team are not to blame for these issues.

Cardoso stressed the importance of understanding that the CBN is actively working to address Nigeria’s fiscal and monetary health and is committed to finding solutions to the current situation.

He stated, “I laugh at that question but it’s not a laughing matter and I think it is very important for Nigerians to understand that the Central Bank Governor; I and my team, are not responsible for the woes that we have today; we are part of the solution.”

Acknowledging the crisis of confidence that existed when he assumed office, Cardoso highlighted the need to implement difficult measures to improve the situation. He expressed confidence that the efforts being made by the CBN are gradually restoring confidence, which is essential for the success of businesses.

Cardoso concluded by emphasizing the importance of confidence in business and the ongoing efforts to rebuild it in Nigeria.

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