CBN correcting economic challenges to stimulate productivity, protect SMEs – Cardoso

Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, weekend, said the apex bank is committed to ensuring that identified economic challenges in Nigeria are addressed in order to stimulate productivity, especially as it concerns the growth of Small Medium Enterprises (SMEs). He stated this in an address at the CBN special day at the ongoing 36th Enugu International Trade Fair, Enugu.

Represented at the occasion by the acting director of Corporate Communication, Hakama Sidi Ali, Cardoso described SMEs as ‘engine of economic growth,’ that should be shepherded from ‘harmful external shock.” Speaking on the premises of the fairs with the theme: “Developing Nigeria Industrial Sector/SMEs for Economic Advancement and Global Recognition,” Cardoso noted that the bank is committed to ensuring that Nigeria’s economy grows through robust economic policies. He said sound financial system would go a long way in strengthening the nation’s economy which is what the bank is striving to achieve.



“The current management of the bank is committed to correcting identified challenges of the Nigerian economy to stimulate productivity, especially the Small and Medium Enterprises (SMEs). The SMEs are the engine of growth in any economy. Domestic industries should also be strengthened to shield the local economy from harmful external shocks,” he stated.

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