Credibility Is Nigeria’s strongest currency, Says CBN governor Cardoso

By Joy Baba-Yesufu

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged the next generation of Nigerian leaders to embrace credibility as their greatest asset, stressing that integrity, transparency, and trust are indispensable in both governance and economic management.
Cardoso made the call on Friday while delivering the maiden edition of the CBN Governor’s Lecture Series at the Lagos Business School (LBS). His lecture, titled “Leadership Principles for the Next Generation: Monetary Policy and Nation Building,” outlined a vision for future leadership rooted in discipline, innovation, and inclusion.
“In central banking, as in life, credibility is the most valuable currency,” Cardoso said. “Tomorrow’s leaders must be transparent, data-driven, and grounded in evidence. That is why the CBN is investing in deep research partnerships and stronger policy communication.”
Highlighting the rapid digital transformation of global finance, the CBN governor pointed to Nigeria’s evolving digital payments framework and regulatory sandbox as part of efforts to prepare the country for a digital economy. “Payments, credit, savings, and investments are being redefined by fintech and digital platforms. The future is digital, and we are preparing for it,” he said.
Cardoso noted that monetary policy extends beyond inflation targets and interest rates, describing it as a tool for building trust and ensuring stability. He underscored three values he believes should define Nigeria’s next generation of leaders: credibility, innovation, and inclusion.
He further explained that the lecture series was designed to foster open dialogue and knowledge transfer between generations. “Our aim is to build strong institutions, resilient economies, and sustained prosperity, all anchored in credible leadership that can set vision, make hard decisions, and regulate with integrity,” he added.
During a fireside chat, Cardoso highlighted key reforms undertaken by the apex bank, including the adoption of a B-matching electronic system in the foreign exchange market to boost transparency, as well as plans to transition the CBN into a fully paperless institution. “Everyone now sees the same rates. It has brought us closer to a perfect market,” he said.
Reiterating that stability is the foundation of growth, Cardoso said: “Without stability, everything else—job creation, entrepreneurship, investment—falls apart. We’ve achieved stability, and we will defend it fiercely.” He noted that investor confidence was already being reflected in recent GDP figures.
In her welcome address, Dean of LBS, Olayinka David-West, described the lecture as a milestone in bridging academia, government, and the private sector. “Today, we are proud to host Governor Olayemi Cardoso as we inaugurate the CBN Governor’s Lecture Series, a bold step toward fostering accountability, transparency, and deeper public understanding of monetary policy,” she said.
The event, according to Cardoso, is part of a broader strategy to strengthen public engagement around Nigeria’s financial system and inspire the next generation of leaders to lead with vision, resilience, and credibility.