The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has dismissed claims linking the CBN to the current economic challenges in the country.

Speaking during the first Monetary Policy Committee (MPC) meeting since taking office in September 2023, on Tuesday in Abuja, Cardoso emphasized that he and his team are actively working on solutions rather than being the cause of the problems.

He assured that the CBN is undertaking essential measures to restore the nation’s fiscal and monetary well-being to a stable state.

He said, “I laugh at that question, but it’s not a laughing matter, and I think it is very important for Nigerians to understand that the Central Bank Governor — I and my team — are not responsible for the woes that we have today; we are part of the solution.

“We are determined to ensure that we work hard to get out of the mess that Nigeria is in. We assumed responsibility in a time of crisis of confidence; there was a crisis of confidence and you may all want to go to bed and wish that crisis of confidence was not there but it was, and we can’t turn back the clock.

“All we can do is do the difficult things to make a bad situation better and I do believe that the efforts that we are making are beginning to bring back confidence because to be frank, without confidence in your business, you are not going to get far.”