Laide Raheem, Abeokuta
The Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso has called on the Nigeria Institute of Public Relations (NIPR) to partner with the apex bank in its concerted efforts in restoring confidence in the fiscal system and attract investors who will contribute to boosting the country’s economy for the overall good of the citizens.
He said that as public relations shapes perceptions and tells Nigeria’s story in a way that builds trust, attracts investments, and fosters international partnerships, a strategic, focused, inclusive, and comprehensive approach is required for public relations experts to drive economic and reputational transformation.
The CBN governor made this call in his keynote address delivered at the opening ceremony of the Annual Public Relations Week of the Nigerian Institute of Public Relations (NIPR, held at the June 12 Cultural Centre, Abeokuta, the Ogun State capital.
Speaking on the topic, “Strengthening Trust and Communication: The Role of Public Relations in Nigeria’s Economic Development”, Cardoso noted that the CBN has not only moved to guarantee price stability and control inflation to ensure that ordinary Nigerians’ purchasing power is restored in the short to medium term, it has also intensified efforts to sanitize the banking sector.
Cardoso, who said that the CBN has made deliberate efforts to emphasize the principles of transparency, accountability and compliance, added that the bank under his leadership has succeeded in stabilising the Nigerian Foreign Exchange market.
Represented at the conference by Uchenna Ogbonna, Head of Corporate Communications, Central Bank of Nigeria, Lagos, Cardoso noted that though Nigeria is currently encountering notable economic inequalities, infrastructure deficiencies, and security susceptibilities, the obstacles should afford Nigeria the chance to write a new chapter in its international narrative that is replete with progress, ingenuity, and expansion.
“The connection between a strong national reputation and a thriving economy is undeniable. Developing a robust national brand is crucial; it should capture Nigeria’s vibrancy, diversity, and limitless potential. By highlighting our technological advancements, cultural heritage, and commitment to sustainable and inclusive development, we can redefine our narrative and enhance our attractiveness as a favourable destination for trade and investment.
“As you know, the Nigerian initiative encounters obstacles from all sectors of the society. These obstacles are nonetheless surmountable if there are effective collaborations. In an era when global perceptions significantly influence economic prosperity and international standing, public relations is indispensable to a country’s reputation capital”, he stated.
The CBN governor, however, urged the NIPR to ensure its members and Nigerians embrace the Institute’s code of conduct which prioritises trust and honesty of purpose, emphasizing that embarking on a cohesive public relations strategy aligned with Nigeria’s economic goals remains a monumental endeavour.
“Revitalising Nigeria’s economy and reimagining our global reputation is a collective voyage. It is a journey marked by transforming perceptions, unlocking latent potentials, and ushering in a new era of prosperity and international esteem. The moment to act is now. United in our pursuit and leveraging the formidable public relations instrument, we are poised to turn our challenges into our most significant accomplishments.
“To ensure that our country continues its march toward greatness and prosperity trajectory, all hands must be on deck to comply with the rules and guidelines across all sectors. When this is done, we will undoubtedly receive the reward of a better nation programmed to achieve even greater successes. This is our motivation and value proposition at the Central Bank of Nigeria. My team and I assure you that the Bank stands as a ready ally in championing good causes for the betterment of our country, and we will continue to implement the right policies with all our might”, Cardoso submitted.
He expressed optimism that the knowledge-sharing experience at the annual NIPR conference will be useful to delegates in proposing innovative solutions for addressing the PR challenges confronting the country and respective organizations.