Central Bank of Nigeria Governor Olayemi Cardoso has called on the country’s youth to prepare themselves for the task of constructing a credible, stable, and inclusive society, emphasizing that Nigeria’s trajectory depends on their actions.
Speaking at the inaugural CBN Governor’s Lecture Series held at Lagos Business School, Cardoso addressed students, academics, and business professionals on the theme “Next Generation Leadership in Monetary Policy and Nation Building.” He described the nation’s young population as its most valuable resource, noting that with a median age of 18, Nigeria ranks among the world’s youngest countries.
Cardoso told the audience that today’s young generation will be responsible for shaping the nation’s narrative. He stressed that the principles of credibility, stability, and inclusiveness will determine whether the country advances or falters.
The governor reflected on the economic challenges he encountered upon assuming office in 2023. Inflation had climbed close to 35 percent, foreign reserves were under pressure, and investor confidence had diminished. The Bank also confronted a verified foreign exchange backlog exceeding $7 billion.
Cardoso explained that honoring commitments, even under difficult circumstances, became essential to preserving national integrity. Following a forensic audit, the Central Bank settled these obligations, a decision that helped restore international investor confidence. The institution also implemented transparency measures, including publishing audited reserves, releasing financial statements, and conducting live briefings after Monetary Policy Committee meetings.
The governor warned that economic stability is non-negotiable for national progress. He argued that serious investors, regardless of scale, will not commit resources in environments where capital is at risk. He pointed to recent improvements: inflation declining to 20 percent, GDP growth reaching 4.2 percent in the second quarter, recovering capital inflows, and foreign reserves stabilizing above $42 billion.
Cardoso also highlighted advances in financial inclusion, which has risen from 56 percent in 2020 to over 64 percent in 2025. The ongoing bank recapitalisation exercise is designed to strengthen the financial system’s resilience.
In her opening remarks, Lagos Business School Dean Professor Olayinka David-West characterized the lecture as more than an academic event. She described it as the fulfillment of the governor’s commitment to transparency and a platform connecting policymakers, business leaders, and civil society. She encouraged students to actively engage by asking questions and challenging existing norms.
Cardoso closed his address by acknowledging the unique capabilities of the current generation, describing them as the most mobile, connected, and creative cohort in history. He urged them to persist through challenges with courage, reminding them that they will author the next chapter of Nigeria’s story.
