The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged Nigerians, particularly the youth, to resist the urge to emigrate, commonly referred to as “japa.”
Speaking at the 59th annual Bankers’ Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso assured that efforts are underway to create an economy where businesses and individuals can thrive.
“It’s not advisable to japa at this time,” he said, citing two key reasons.
First, he warned that selling off assets cheaply during emigration allows external “predators” to exploit these bargains for profit.
Second, he emphasized the importance of staying to contribute to the nation’s progress. “This is a time when we need all hands on deck to be part of the solution,” he added.
Cardoso acknowledged the challenges posed by recent economic reforms but highlighted their long-term goal of creating opportunities and ensuring inclusive growth.
He noted increased market activity and interest in Nigeria over the past year, signaling potential economic improvements.
The CBN Governor reiterated his commitment to addressing current challenges while laying a foundation for a thriving future.
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