“It’s Not a Good Idea to Japa,” Says CBN Governor Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has advised Nigerians against emigrating, popularly known as “Japa.” He assured citizens that the apex bank is focused on creating an economy where individuals, businesses, and communities can thrive.

Speaking at the 59th Annual Bankers’ Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Cardoso warned about the long-term consequences of leaving the country at this critical time. He highlighted the risks of selling off assets at undervalued prices, which could benefit foreign opportunists during an eventual economic recovery.

“There are opportunities in the market today,” Cardoso stated. “From my experience over the past year and recent months, international investors see potential in Nigeria. As citizens, we should also see this potential and be part of the solution for a better future.”

Acknowledging the impact of recent economic reforms, Cardoso emphasized that these measures are designed to tackle current challenges and secure opportunities for tomorrow. He called on all stakeholders, including regulators, businesses, and citizens, to work collaboratively to build a sustainable and inclusive economy.

“We are building an economy where every individual, every business, and every community can thrive,” he said. “This vision requires collective effort and steadfast resolve from everyone.”