During the 23rd annual public lecture of Lead City Voices, in collaboration with the Institute of Chartered Secretaries and Administrators of Nigeria, held at Lead City University in Ibadan, Oyo State, Prof. Kabiru Adeyemo, the Vice Chancellor of the university, emphasized the need for the Central Bank of Nigeria to have visionary leaders capable of anticipating and addressing emerging challenges. He highlighted the importance of utilizing technology and promoting a culture of continuous improvement.
Addressing the theme, ‘The dynamics of leadership in fiscal and monetary policies: The Central Bank of Nigeria in perspectives,’ Adeyemo emphasized that effective leadership plays a crucial role in shaping fiscal and monetary policies, especially in the context of the ever-changing global economic landscape, which has been marked by various challenges and uncertainties.
“The CBN is tasked with the critical responsibility of maintaining financial stability, promoting economic growth, and preserving the value of the national currency; the CBN must embrace forward-thinking policies that adapt to the realities of the global economy.”
These were complex tasks that demanded exceptional leadership skills and a deep understanding of the economic landscape,” he said.
Adeyemo added, “Transparency and accountability are two fundamental pillars that underpin effective leadership.
“In order to build trust and confidence, the CBN must be transparent in its decision-making processes and communicate its policies and actions clearly to the public.”
He emphasized that accountability plays a vital role in holding leaders accountable for their actions and decisions, thereby promoting a culture of integrity and ethical behavior.
Regarding monetary policy, especially in terms of targeting inflation, Adeyemo recommended that the government should persist with an inflation-targeting framework to keep inflation within a predetermined range.
“This can help stabilize prices, promote economic stability, and provide a conducive environment for sustainable growth,” he said.