CBN Governor Olayemi Cardoso has referred to recent visits by JP Morgan’s senior management, Citi Bank, and the International Monetary Fund (IMF) as a clear indicator of growing investor confidence in the trajectory of Nigeria’s economy.
Addressing a gathering of Harvard Kennedy School (HKS) Africa Trek scholars at the CBN headquarters in Abuja, Cardoso highlighted the successes achieved in stabilizing the foreign exchange market, curbing inflation, and addressing key economic challenges.
“Their interest is a sign that we are going in the right direction,” Cardoso said, adding that international financial institutions act on facts and economic figures and not emotion.
The Africa Trek delegation of 50 students from 19 nations represented leading institutions like Harvard Kennedy School (HKS), Harvard Business School, the Massachusetts Institute of Technology (MIT), and Stanford University.
Their trip to Nigeria came after a previous visit to Ghana as part of a larger initiative to meet with African policymakers and economic stakeholders.
As an alumnus of HKS and the first African pioneer in the worldwide HKS Alumni Board of Directors, Cardoso also reaffirmed CBN’s quest for intellectual debate and policy solution.
“As we redraw the Bank, we aim to be thought leadership centers. The exposure it provides us, from Harvard, is just invaluable, and we view it as a call to form longer-term alliances,” he said.
The President of Harvard Kennedy School Alumni Association of Nigeria (HKSAAN), Ms. Adaora Ndukwe, and Ms. Sheffy Kolade, Lead of the HKS Nigeria Trek Delegation, appreciated the CBN for its openness.
The Bank was praised for being receptive to having future policymakers listen to its experts and gain first-hand information on Nigeria’s evolving economic landscape.
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