Driving investor confidence by clearing FX backlog, By Abdulrahman Abdulraheem

The clearance of FX backlogs is a significant step towards meeting Nigeria’s obligations and assuring the international community that the country is safe and sound for investments that will benefit all parties. Government cannot on one hand be battling with youth unemployment and mass poverty and on the other hand be frustrating credible investors who are adding value to the economy.

Governance is known all over the world to be a continuum. When people get into positions of authority, they are expected to inherit assets and liabilities from their predecessors. They are meant to build on the assets they meet on ground, while defying and, if possible, fixing the liabilities.

While Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, can be said to have inherited more liabilities than assets, he never pitied himself or asked to be pitied. He just rolled up his sleeves, hit the ground running and got on the job. He knew the kind of…