The Governor of the Central Bank of Nigeria, Yemi Cardoso, has described public relations as an indispensable tool for any country to achieve economic prosperity.

The CBN governor, represented by the Assistant Director and Head of Corporate Communications of the apex bank, Lagos, Mr. Uchenna Ogbonna, stated this during the just concluded annual National Week of the Nigerian Institute of Public Relations held in Abeokuta.

The CBN governor said that his administration remained committed to championing good causes and implementing the right policies to boost the country’s economy and make it more vibrant and resilient

Cardoso, who spoke on the theme “Strengthening Trust and Communication: The Role of Public Relations in Nigeria’s Economic Development”, noted in an era when global perceptions significantly influence economic prosperity and international standing, public relations is indispensable to a country’s reputation capital.

He asserted, “Public relations shapes perceptions and tells Nigeria’s story in a way that builds trust, attracts investments, and fosters international partnerships.

“However, a strategic, focused, inclusive, and comprehensive approach is required for public relations to drive economic and reputational transformation.

“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.”

The CBN governor added that achieving this task required a collective commitment to trust, transparency, and honesty by every Nigerian within and outside the country.

He explained that the CBN under his watch had emphasised principles of transparency accountability and compliance, believing that those were unique selling points for the apex bank and the country

Cardoso remarked, “Specifically, over the past six months, the CBN, under my watch, has succeeded in stabilising the Nigerian foreign exchange market, with the exchange rate now enjoying excellent stability.

“We have also moved to guarantee price stability and control inflation to ensure that ordinary Nigerians’ purchasing power is restored in the short to medium term.”

He revealed that revitalising Nigeria’s economy would pose less of a challenge if all hands were on deck to comply with the rules and guidelines across all sectors.