Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has urged Nigerians to reconsider the trend of leaving the country, popularly known as “japa,” emphasizing the need for collective efforts to build a thriving economy.
Cardoso delivered this message during his keynote address at the 59th annual Bankers Dinner organized by the Chartered Institute of Bankers of Nigeria in Lagos.
“It is not a good idea to japa at this stage,” he cautioned, offering two key reasons. “One, those who may decide they are going to do that, they will sell and get rid of their assets. You’ll be doing it for cheap. Predators, who are outside looking for bargains, will come and take it and pocket it, put it in their pocket and wait for the turnaround and sell it away.”
He further highlighted the importance of contributing to national development, stating, “Number two, you want to be part of the solution. You want to be part of the solution, and this is time that we need all hands on them. There are opportunities in the market today, which I must say, from my experience over the past year and also for the past six months, a lot of interest from the outside in what is going on in Nigeria. In taking positions in certain assets, so they see the opportunity, and we, who are here, should be part of the solution for the better things which will come.”
Acknowledging the challenges caused by recent reforms, Cardoso reassured Nigerians that these efforts aim to address present difficulties while securing future prosperity.
“We are building an economy where every individual, every business, and every community can thrive,” he stated, adding that achieving this vision requires collaboration. “This vision will not be achieved by one institution alone. It requires all of us — banks, regulators, businesses, and citizens — to work together with steadfast resolve.”
