Amid rising economic hardship, Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has claimed that the apex bank is making “steady progress” in stabilizing the foreign exchange market and curbing inflation.
Speaking during a visit by Harvard Kennedy School scholars to the CBN headquarters in Abuja, Cardoso insisted that ongoing reforms were yielding results, despite widespread complaints from Nigerians about skyrocketing prices and a volatile naira.
He pointed to visits from executives of JP Morgan, Citibank, and the International Monetary Fund as proof that investor confidence in Nigeria’s economy was improving. However, critics argue that foreign interest does not translate to relief for ordinary Nigerians facing high costs of living, increased lending rates, and currency depreciation.
While Cardoso presented an optimistic outlook, many citizens remain unconvinced, questioning whether the CBN’s policies are truly addressing the economic realities on the ground.
