Don’t blame me for Nigeria’s economic challenges – Cardoso

The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, emphasized that he and his team should not be blamed for the current economic difficulties faced by Nigerians.

Speaking after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, Cardoso reassured the public that the apex bank is actively working to restore the country’s fiscal and monetary stability.

Asked if the policies introduced by the CBN under his watch are responsible for the economic challenges in the country, Cardoso said: “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.

“We are determined to ensure that we work hard to get out of the mess that Nigeria is in.

“We assumed responsibility in a time of crisis of confidence. There was a crisis of confidence and you may all want to go to bed and wish that crisis of confidence was not there but it was, and we can’t turn back the clock.

“All we can do is do the difficult things to make a bad situation better and I do believe that the efforts that we are making are beginning to bring back confidence because to be frank, without confidence in your business, you are not going to get far.”

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