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My Job Is The Second Most Difficult Job On Earth – CBN Governor Cardoso

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9 months ago

Feb 19, 2024.

EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, expressed the formidable challenges of his position, describing it as the second most demanding globally. Cardoso made this statement on Sunday during the commencement of the 2024 First Plenary Assembly of the Catholic Bishops Conference of Nigeria (CBCN) in Abuja.

Highlighting the ongoing reforms and initiatives of the Bola Tinubu administration, Cardoso emphasized that these efforts are yielding positive outcomes. He remained optimistic that despite the prevailing economic challenges in the country, relief is on the horizon.

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Cardoso affirmed that Nigeria possesses the potential to overcome its economic difficulties, asserting that sustained positive progress will pave the way for stabilization in the foreign exchange market.

Cardoso, who was the Chairman of the occasion, said: ”I will continue to remember that in spite of (my job) the second most difficult job on the face of the planet, this is really something that remains very memorable.

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“As a result of some of the recent reports from the CBN, over the course of the last week, about $1.8bn came into the markets.

“As long as the country can sustain a positive trajectory, Nigeria will get out of its economic woes and the foreign exchange market will begin to moderate itself.

“There is a positive outlook on that. The positive outlook comes from the fact that a series of reforms have been made by the federal government and the Central Bank, which are now paying off in such a way that international investors are coming back in again.”

Cardoso said an attempt to merge the official rate with the black market rate had been made, adding that the difference between the two is now significantly lower.