Why Nigerians Should Not Japa - CBN Governor

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has advised Nigerians to reconsider relocating abroad, commonly referred to as "Japa." Speaking during the 59th Annual Bankers Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso emphasized the need for citizens to stay and contribute to rebuilding the nation, as reported by Newsmen.

Cardoso identified two major reasons why leaving Nigeria at this time might not be the best decision. Firstly, he warned that individuals who decide to relocate often sell off their assets at undervalued prices. According to him, this creates opportunities for predators to purchase these assets cheaply, only to resell them at higher prices when the economy improves.

Secondly, the CBN Governor encouraged Nigerians to see themselves as part of the solution to the country's challenges. "This is the time we need all hands-on deck," he stated, as quoted by reporters. Cardoso highlighted that Nigeria currently presents unique investment opportunities, drawing significant interest from foreign investors. He urged citizens to take advantage of these opportunities and participate in shaping the nation's economic future.

While acknowledging the hardships caused by recent reforms, Cardoso reassured Nigerians that these measures are designed to address present difficulties and secure long-term economic growth. "We are building an economy where every individual, business, and community can thrive," he said, according to report.

The governor also emphasized that achieving this vision requires collective efforts from all sectors, including regulators, businesses, and citizens. He urged Nigerians to remain steadfast, work together, and be optimistic about the brighter future ahead.

Cardoso's remarks, as reported by Newsmen, come at a time when Nigeria is implementing critical reforms aimed at stabilizing the economy and fostering sustainable development.