The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has appealed to Nigerian youths to reconsider emigrating, assuring that the bank’s ongoing reforms are targeted at rebuilding the economy for collective growth and prosperity. Cardoso made the remarks during the 59th Annual Bankers’ Dinner hosted by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.
Cardoso emphasized that the CBN is working to create an environment where businesses and individuals can thrive, stressing that every decision by the bank is aimed at serving the best interest of Nigerians.
Addressing the wave of migration, popularly referred to as “japa,” Cardoso warned of the risks associated with leaving the country. He noted that emigrants often sell their assets at undervalued prices, allowing foreign investors to profit from these bargains. “Predators who are outside looking for bargains will come and take these assets, wait for a turnaround, and profit from them,” he said.
He also urged youths to remain and contribute to the country’s recovery, stating, “This is the time we need all hands on deck. Be part of the solution.”
Highlighting opportunities in Nigeria’s economy, Cardoso said international investors are showing significant interest in the market. He called on Nigerians to position themselves to benefit from the anticipated economic turnaround.
While acknowledging the hardship caused by recent reforms, Cardoso assured that these measures aim to address current challenges and secure future opportunities. “We are building an economy where every individual, business, and community can thrive,” he said, calling for collective efforts from regulators, banks, businesses, and citizens to achieve this vision.
The governor’s appeal comes amid rising youth migration and economic challenges, underscoring the urgency of reforms to rebuild confidence in Nigeria’s future.
