*Says credibility is Nigeria’s strongest currency
*Stability remains key to inclusive growth
*Openness, accountability inspire hope at Lagos Business School—Pro. Olayinka
By Babajide Komolafe
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has charged Nigerian youths to prepare for the responsibility of building a credible, stable, and inclusive nation, stressing that the country’s future rests in their hands.
Cardoso also urged youths to see themselves as custodians of the country’s future, stressing that credibility, stability, and inclusiveness will determine whether Nigeria rises or stumbles.
Delivering the inaugural CBN Governor’s Lecture Series at the Lagos Business School (LBS), themed “Next Generation Leadership in Monetary Policy and Nation Building,” Cardoso told an audience of students, academics, and business leaders that Nigeria’s youthful population is its greatest asset. “With a median age of 18, Nigeria is one of the youngest countries globally,” he said. “You—the next generation—will hold the pen, or the digital device, to write Nigeria’s story.”
He also urged students and young professionals to embrace credibility, digital transformation, and inclusiveness as guiding principles.
Credibility as currency
Reflecting on his early days in office in 2023, Cardoso recalled inheriting an economy in distress. Inflation had peaked near 35 percent, reserves were strained, and investor confidence had collapsed. More daunting, the Bank faced a verified foreign exchange backlog exceeding $7 billion.
“Credibility means keeping promises, even when it is tough,” he declared. “We could not walk away from existing commitments. We had to clear the backlog to protect Nigeria’s integrity.”
Cardoso explained that after a forensic audit, the Bank settled the obligations, a move that reassured international investors. He highlighted other transparency measures, including publishing audited reserves, releasing the Bank’s financial statements, and holding live post-MPC briefings. “For us at the Central Bank, credibility is everything,” he stressed.
Stability and inclusive growth
Cardoso warned that no nation can thrive without stability. “Without stability, the things you are asking about cannot happen. Serious investors—big or small—will not commit if they fear losing money,” he said. He cited recent progress: inflation moderating to 20 percent, GDP expanding by 4.2 percent in Q2, capital flows rebounding, and reserves stabilising above $42 billion. He added that financial inclusion has risen from 56 percent in 2020 to over 64 percent in 2025, while bank recapitalisation is underway to strengthen resilience.
“Stability is our job. It is the foundation on which inclusive growth must be built,” he told the audience, pledging that the CBN would remain disciplined and forward-looking.
A platform of hope
In her welcome remarks, LBS Dean, Professor Olayinka David-West, described the lecture as more than an academic exercise. “It is a fulfillment of the Governor’s pledge of transparency and a bridge linking policymakers, business leaders, and civil society,” she said.
She urged students not to be passive listeners. “Ask questions, challenge the status quo. Nigeria belongs to all of us. Through active participation, we can shape a future of responsible leadership.”
Looking ahead
Cardoso concluded with a message of resilience. “You are the most mobile, most connected, and most creative generation the world has ever seen. Stay the course and lean into challenges with courage. Nigeria’s story is still being written—and it is you who will write the next chapter.”
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