… Highlights Nigeria’s Economic Reforms
Damilola Bello
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has formally received the Central Bank of the Year Award at the 2026 Central Banking Awards ceremony held in London, marking international recognition of Nigeria’s ongoing monetary and financial sector reforms.
Cardoso dedicated the award to the CBN Board, management and staff, describing the honour as a reflection of collective efforts to strengthen institutional capacity, restore confidence and support economic stability.
Speaking during the ceremony on Wednesday, June 10, 2026, the CBN Governor thanked Central Banking Publications and the award judges for the recognition, while congratulating other institutions and individuals honoured at the event.
“I accept this award on behalf of the Board, Management and staff of the Central Bank of Nigeria,” Cardoso said, adding that the recognition belonged to the professionals whose commitment and expertise have helped reinforce the credibility of the institution.
The award comes as Nigeria continues to implement major economic reforms aimed at stabilising inflation, improving foreign exchange market operations and strengthening the financial system.
Cardoso said central banks globally have faced unprecedented challenges in recent years, noting that Nigeria has also navigated significant economic pressures requiring difficult but necessary policy decisions.
He highlighted key measures undertaken by the CBN, including reforms in the foreign exchange market, efforts to tackle inflationary pressures and investments in digital financial infrastructure designed to improve efficiency and long-term economic growth.
The Governor also pointed to major institutional milestones achieved during the reform period, including Nigeria’s removal from the Financial Action Task Force grey list and the successful completion of the banking sector recapitalisation exercise.
According to Cardoso, the CBN’s reform agenda has focused on rebuilding trust, improving policy credibility and creating a more resilient financial system capable of supporting sustainable investment.
“We receive this recognition with humility. We see it not as a destination, but as encouragement to continue the important work ahead,” he said.
The CBN Governor acknowledged the role of the Federal Government, financial sector operators, development partners and Nigerians in supporting the reform process.
He reaffirmed the Bank’s commitment to maintaining monetary stability, protecting the financial system and delivering policies anchored on professionalism, accountability and public confidence.
For investors and global markets, the award represents a positive signal on Nigeria’s efforts to strengthen its central banking framework and improve confidence in Africa’s largest economy amid ongoing reforms.
