The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has urged Nigerians to reconsider relocating abroad, a trend commonly referred to as “Japa.” Speaking at the 59th Annual Bankers Dinner hosted by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso emphasized the importance of staying in the country and contributing to its rebuilding efforts.
Cardoso outlined two main reasons why leaving Nigeria may not be the best choice at this time. First, he pointed out that many individuals who choose to emigrate often sell their assets at low prices, which creates opportunities for opportunistic buyers to acquire them cheaply and sell them for a profit once the economy recovers.
Secondly, the CBN Governor urged Nigerians to see themselves as part of the solution to the country’s challenges. He stressed that “this is the time we need all hands on deck” and highlighted the unique investment opportunities currently available in Nigeria, which are attracting significant foreign interest. He encouraged citizens to seize these opportunities and actively contribute to shaping the nation’s economic future.
While acknowledging the difficulties caused by recent reforms, Cardoso reassured Nigerians that these measures are aimed at addressing current challenges and securing long-term economic stability. “We are building an economy where every individual, business, and community can thrive,” he affirmed.
Cardoso also underscored the need for collective efforts from all sectors—regulators, businesses, and citizens alike—to achieve this vision. He urged Nigerians to remain hopeful, work together, and stay focused on the brighter future ahead.
His comments come at a time when Nigeria is implementing key reforms aimed at stabilizing the economy and promoting sustainable growth.