The Central Bank of Nigeria, or CBN, is trying to do something that's never been done before in Nigeria: get private investors to invest in the country's economy, the Guardian reports.
CBN Governor Olayemi Cardoso said Thursday that the bank is working with the Impact Investing Community, led by the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order, to encourage investments that "positively influence the lives of Nigerians and contribute to economic growth."
"At the end of our tenure, we want to look back and see that our policies have positively impacted people's lives," Cardoso said, per a CBN press release.
The CBN is trying to bring down the country's inflation rate, which rose to 14.5% in October, the highest in the world, the BBC reports.
The head of the Impact Investing Community, Khalifa Sanusi, said at the time that "people often do not know the impact of a Central Bank's works until a Central Bank fails," per the press release.
He urged the CBN to "work diligently to reduce it, emphasizing the negative impact of inflation on individuals' wealth," as well as focus on sectors such as agriculture and education, especially for the girl-
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