TheCable

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the pains caused by ongoing monetary and fiscal reforms will soon be over if Nigerians remain focused on supporting the policies.

Cardoso, represented by Blaise ljebor, CBN’s director, risk management, spoke while participating in a panel discussion during the Vanguard Economic Discourse in Lagos with the theme: “Reforms in the Era of Global Economic Uncertainties: Whither Nigeria”.

Responding to economic and financial issues raised during the session by stakeholders, he said inflation has many components which the government is trying to fix.

“If we stay focused on the reform, the pains would be short-lived,” he said.

Also, while delivering his keynote speech at the event, Cardoso explained the impact of the policies of the apex bank in resolving foreign exchange challenges and other monetary issues.

“As the Governor of the Central Bank of Nigeria, I remain committed to repositioning the bank to deliver meaningful data-driven and sustainable solutions with a clear positive impact on the livelihood of all Nigerians,” he said.

“However, addressing these challenges requires the concerted effort of all stakeholders, especially the monetary and fiscal authorities working in harmony.”

Cardoso said the CBN will continue to implement bold reforms to make the economy work for all Nigerians, adding that the apex bank had embarked on tightening monetary policy to address inflationary pressure while reeling out positive results.