CBN Governor, Olayemi Cardoso Calls for Transparency and Training in Debt Management

The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has called for transparency and training for debt management professionals to build trust with investors, creditors, and the public. Speaking at an event in Abuja, Cardoso emphasized the importance of routine disclosure of debt information and the need for continuous investment in human capital and capacity development.

Cardoso highlighted that effective debt management is crucial in today’s world as it allows governments to finance critical investments without burdening future generations. The event, co-organised by the World Bank, IMF, and WAIFEM, aimed to strengthen national capacities for debt management and promote the development of robust Debt Management Strategies and Annual Borrowing Plans.

Represented by Ms. Ladi Raulatu Bala-Keffi, Acting Director at the CBN, Cardoso stressed the importance of formulating robust Debt Management Strategies and Annual Borrowing Plans. He explained that this process requires a comprehensive approach involving a well-coordinated institutional framework for public debt management and a stable macroeconomic environment.

Dr. Baba Yusuf Musa, Director-General of WAIFEM, also highlighted the significance of the event and the commitment to excellence through Cardoso’s presence. He emphasized the vital role of Annual Borrowing Plan development in financial management and the importance of continuous training for debt management professionals.

Overall, the call for transparency and training in debt management by the CBN Governor underscores the strategic necessity of effective debt management in ensuring sustainable financing for critical investments and the well-being of future generations.