CBN Governor Olayemi Michael Cardoso Governance Lecture Series
At Lagos Business School, the Governor of the Central Bank of Nigeria, Mr. Olayemi Michael Cardoso, inaugurated the maiden edition of the CBN Governance Lecture Series—a milestone that fused knowledge, leadership, and vision for the future of Nigeria.
For Cardoso, the moment carried a personal touch. “Thank you for hosting us on this special occasion,” he said, recalling his past service on the institution’s board. “It is fitting that we begin here, with an audience of young people so central to shaping the future of monetary policy and nation-building.”
The new lecture series, he explained, is not just about speeches. It is about creating a platform for thought leadership, bridging policy and practice, and nurturing a culture of informed, value-driven governance across Nigeria’s academic institutions.
Reflecting on his assumption of office in 2023, Cardoso recalled the dire economic situation: inflation spiraling above 30%, drained reserves, a battered naira, and collapsing investor confidence. “It was a moment that demanded not just technical skill, but leadership—courage, credibility, and accountability,” he noted.
Decisive steps followed. The CBN raised policy rates by over 800 basis points, unified foreign exchange windows, cleared FX backlogs, and strengthened liquidity management. Reserves now stand above $42 billion. Inflation has moderated to around 20%, GDP growth hit 4.2% in Q2 2025, and sovereign credit ratings are on the mend.
Yet Cardoso was clear: the real challenge lies ahead. “These gains must translate into durable prosperity, especially for the next generation,” he said.
Turning to the youthful audience, he delivered his most direct message: Nigeria’s young population—half of whom are under 30—are not just observers but the real protagonists of nation-building. “Today’s undergraduates and graduates will be tomorrow’s ministers, entrepreneurs, innovators, and central bankers. You must prepare not only to inherit leadership, but to transform it.”
From his journey at Citibank, his time as Lagos State Commissioner for Economic Planning, to his global academic service, Cardoso distilled three enduring lessons: credibility as the most valuable currency, digital innovation as the future of finance, and inclusiveness as the foundation of sustainable economic growth.
He drew a symbolic parallel with the restoration of the National Theatre—now renamed the Wole Soyinka Theatre for Culture and the Creative Arts—a project backed by the CBN and partners. “It was about more than bricks and mortar,” Cardoso said. “It was about restoring pride and reputation. And when credibility is rebuilt, confidence returns, capital flows, and stability takes root.”
Looking ahead, he reminded students that the global terrain they will inherit is both daunting and inspiring—from artificial intelligence to climate change, and from digital currencies to shifting geopolitics. “Stay the course. Perseverance, though it may sound clichéd, is your greatest ally,” he advised.
Closing with a message of hope and responsibility, Cardoso said:
“Stability is not an end in itself—it is the foundation upon which we must build growth, inclusion, and renewal. Nigeria’s story is still being written. And it is you, the next generation, who will hold the pen—or should I say, the digital device.”
CBN Governor Olayemi Michael Cardoso launches the inaugural Governance Lecture Series at Lagos Business School, urging Nigerian youth to embrace credibility, innovation, and inclusiveness in shaping the nation’s economic future.
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