When Olayemi Cardoso steps onto the stage at Lagos Business School this Friday, October 3, 2025, he won’t just be giving a speech — he’ll be launching a three-year experiment in public trust. The inaugural lecture of the CBN Governor's Annual Lecture SeriesLagos Business School, titled ‘Next Generation Leadership in Monetary Policy and Nation Building’, is more than ceremonial. It’s a direct response to the disconnect between Nigeria’s central bank and the millions of citizens struggling with 33.7% inflation — the highest in over two decades. Cardoso, the 21st Governor of the Central Bank of Nigeria, isn’t just trying to explain policy. He’s trying to rebuild credibility, one lecture at a time.
Why This Lecture Series Matters
The Central Bank of Nigeria has long operated like a fortress. Its decisions — interest rate hikes, currency controls, forex interventions — ripple through every corner of the economy. But for most Nigerians, these moves feel abstract, even arbitrary. The 2024 Financial Stability Report admitted it: public understanding of monetary policy is dangerously low. People see prices rise. They hear about rate changes. But they don’t connect the dots. That’s the gap Cardoso wants to close.
"Nigeria is at a pivotal moment, where technology, global financial realignments, and the energy of its youthful population are reshaping its economic future," Cardoso said in a statement earlier this year, quoted across multiple outlets. That line isn’t just rhetoric. It’s a roadmap. He’s betting that if Nigerians — especially students, academics, and young professionals — understand how the central bank works, they’ll become allies, not critics.
The Venue, The Audience, The Stakes
The choice of Lagos Business School is deliberate. Founded in 1991 and nestled along the Lekki-Epe Expressway, it’s not just a school — it’s a nerve center for Nigeria’s business elite. The audience won’t just be students. Senior officials from the federal government, CEOs of commercial banks, economists from universities across the six geopolitical zones, and even fintech founders will be there. This isn’t a closed-door meeting. It’s a public signal: the CBN is opening its doors.
And the stakes? High. Since Cardoso took office in September 2023, the CBN has hiked the policy rate to 27.5%, slashed dollar access for importers, and cracked down on parallel market forex traders. The goal: bring inflation down. But without public buy-in, these policies risk fueling resentment. Remember 2016, when inflation hit 18.7%? Protests followed. People didn’t understand why their fuel prices jumped — or why the CBN didn’t just print more money. Cardoso knows history repeats itself if communication fails.
A Strategy Built on Transparency
This lecture series is the centerpiece of Cardoso’s Knowledge Acceleration and Thought Leadership Initiative — a phrase you won’t find in any previous CBN strategy. It’s new. It’s bold. And it’s personal. Unlike past governors who rarely spoke outside policy briefings, Cardoso has made public engagement a signature. He’s done town halls. He’s appeared on local radio. Now, he’s institutionalizing it.
The plan? Four lectures a year through 2028, each hosted by a different Nigerian university — from the University of Ibadan to Ahmadu Bello University, from the University of Nigeria, Nsukka, to the University of Calabar. Each will tackle a different theme: inflation targeting, digital currency, financial inclusion, and the role of youth in economic transformation. No fees. No registration limits. Just open access.
"The Bank’s core mandate, safeguarding price stability, is essential to driving sustainable economic growth and protecting livelihoods," Cardoso told African Business Travel. That’s not just a quote — it’s the mission statement. He’s not asking Nigerians to trust him. He’s asking them to understand him.
What’s at Risk — and What Could Change
Here’s the twist: Nigeria’s economy is not just struggling with inflation. It’s struggling with *perception*. Investors hesitate. Consumers cut back. Businesses delay hiring. All because confidence is broken. Cardoso’s lecture series doesn’t fix the economy overnight. But it might fix the story around it.
If successful, this could become a model for other African central banks. Imagine Ghana’s Bank of Ghana or Kenya’s Central Bank hosting similar series. But if it flops — if lectures are poorly attended, if the content feels too academic, if people still don’t see the link between interest rates and their bread prices — then the CBN risks looking out of touch. Again.
Cardoso’s team has made one critical move: they’ve branded it #CBNNextGenLeaders. Not "CBN Talks" or "Monetary Policy Insights." NextGen. That’s the hook. This isn’t for old men in suits. It’s for the 60% of Nigerians under 25. It’s for the student who just opened a mobile wallet. The young entrepreneur who needs a loan. The mother who watches prices climb every week.
What Comes Next
The next three years will be a test. Will universities compete to host the next lecture? Will social media buzz around each event? Will the CBN release summaries in simple Yoruba, Hausa, and Igbo? Will they partner with radio stations to broadcast key excerpts?
Right now, the details beyond October 3 are still unclear. But the intent? Crystal clear. Cardoso isn’t just managing money. He’s trying to rebuild a relationship — between an institution and the people it serves.
Frequently Asked Questions
How will this lecture series affect everyday Nigerians?
If successful, the lecture series will help Nigerians understand why prices rise or fall, how interest rates impact loans and savings, and why the CBN can’t just "print money" to solve inflation. This knowledge empowers consumers to make better financial decisions and hold policymakers accountable. For example, understanding that a 27.5% policy rate is meant to cool spending — not punish borrowers — could reduce panic and misinformation.
Why is Lagos Business School the first host?
Lagos Business School is Nigeria’s most influential business school, with strong ties to the private sector, government, and international finance. Hosting the launch there signals credibility and reaches decision-makers directly. It’s also located in Lagos, Nigeria’s economic engine, where inflation impacts are most visible — from fuel prices to import costs — making it the ideal launchpad for nationwide dialogue.
What’s the link between inflation and this lecture series?
Nigeria’s inflation hit 33.7% in July 2025, eroding incomes and pushing millions into poverty. The CBN’s 2024 report found that poor public understanding of monetary policy weakens its effectiveness. If people don’t know why rates are raised, they blame the bank instead of adjusting behavior. This series aims to close that gap — turning confusion into clarity, and resistance into cooperation.
Is this just political theater?
It could be — but the timing suggests otherwise. Cardoso launched this just two years into his tenure, amid record inflation and growing public frustration. Past governors rarely engaged beyond press releases. The fact that this is a three-year, nationwide, institutionally backed initiative — not a one-off speech — signals a real strategic shift. It’s risky, but it’s also the most honest move the CBN has made in years.
Will this reduce inflation?
Not directly. Inflation is driven by supply chains, fuel subsidies, currency devaluation, and global oil prices. But public trust in policy matters. When people believe the CBN is acting transparently and with their interests in mind, they’re less likely to hoard goods or rush to buy dollars. That behavioral shift can ease pressure on markets — making monetary policy more effective, even if it doesn’t solve everything overnight.
What happens after 2028?
The CBN hasn’t said. But if the series gains traction — with universities clamoring to host, students asking sharp questions, and media covering each lecture — it could become a permanent institution. Think of it like the TED Talks of African economics: a platform where central banking meets public discourse. That’s the real legacy Cardoso is building — not just for his term, but for Nigeria’s next generation of economic leaders.
