The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the bank’s commitment to prioritizing its primary goal of ensuring price stability to foster a conducive environment for economic development.
In pursuit of this goal, the CBN aims to leverage digital technologies to improve financial inclusion, enhance productivity, and create a supportive atmosphere for innovation and entrepreneurship to boost job and wealth creation. “The Bank has adopted robust digital technologies in its processes to achieve optimal performance,” Cardoso stated during a meeting with participants from the National Institute for Policy and Strategic Studies (NIPSS) visiting the CBN headquarters.
As Nigeria’s digital landscape continues to evolve, it presents both significant opportunities and complex challenges. The study tour, themed “Digital Economy, Youth Empowerment, and Sustainable Job Creation in Nigeria: Issues, Challenges, and Opportunities,” aimed to shed light on the CBN’s efforts and strategies to develop a strong digital ecosystem.
Cardoso, represented by Deputy Governor of Corporate Services Dr. Bello Mohammed, emphasized the importance of exploring the potential of digitalization in promoting sustainable job creation and youth empowerment in Nigeria. He stressed the interconnectedness between the digital economy, youth empowerment, and sustainable job creation.
“This study tour offers a platform for engaging in constructive dialogue and exploring collaborative approaches to address the benefits and challenges of the digital economy, youth empowerment, and sustainable job creation in Nigeria,” he stated, welcoming feedback and recommendations.
NIPSS Director-General Ayo Omotayo stated that the CBN could potentially grow the nation’s economy by 12% depending on its policy priorities. He also emphasized that the digital economy can empower Nigerian youth and that the country has progressed in utilizing digital tools for economic growth.
Omotayo expressed optimism about using digital advances to build a digitally inclined society that can benefit from the advantages of the digital economy.
