The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said his job is the second most difficult in the world.
Cardoso made the assertion on Sunday in Abuja at the opening of the 2024 First Plenary Assembly of the Catholic Bishops Conference of Nigeria (CBCN).
The apex bank boss said the Bola Tinubu government’s reforms and other actions are paying off, adding that the present economic hardship in the country would soon be over.
He stated that the nation can get out of its economic woes and the foreign exchange market will begin to moderate itself as long as the country can sustain a positive trajectory.
Cardoso, who was the Chairman of the occasion, said: “I will continue to remember that in spite of (my job) the second most difficult job on the face of the planet, this is really something that remains very memorable.
As a result of some of the recent reports from the CBN, over the course of the last week, about $1.8bn came into the markets.
As long as the country can sustain a positive trajectory, Nigeria will get out of its economic woes and the foreign exchange market will begin to moderate itself.
There is a positive outlook on that. The positive outlook comes from the fact that a series of reforms have been made by the federal government and the Central Bank, which are now paying off in such a way that international investors are coming back in again.”
Cardoso said an attempt to merge the official rate with the black market rate had been made, adding that the difference between the two is now significantly lower.
He said one of the problems of economic advancement in Nigeria is finding ways to move as a country beyond being a consumer nation and shelf appetite for foreign goods.
