June 11 (THEWILL) — The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has formally received the prestigious Central Bank of the Year Award at the Central Banking Awards ceremony held in London, describing the recognition as a reflection of the institution’s reform efforts rather than a personal achievement.
Speaking at the event on June 10, 2026, Cardoso dedicated the award to the Board, management and staff of the apex bank, commending their commitment to institutional reforms, policy credibility and economic stability.
“This award belongs to the many dedicated professionals who serve our institution with integrity, expertise and an unwavering commitment to the public good”, he said.
The recognition comes amid sweeping reforms undertaken by the CBN over the past two years to stabilise Nigeria’s economy, improve transparency in the foreign exchange market and strengthen confidence in the financial system.
Cardoso noted that central banks globally have faced significant economic challenges in recent years, with Nigeria confronting elevated inflation, exchange-rate pressures and broader macroeconomic uncertainties.
According to him, the CBN responded with a series of difficult but necessary measures, including foreign exchange market reforms, monetary tightening and investments in digital and financial infrastructure aimed at supporting long-term economic growth.
The governor also highlighted key milestones achieved under the reform programme, including Nigeria’s removal from the Financial Action Task Force (FATF) grey list and the successful completion of the banking sector recapitalisation exercise.
He said the reforms were designed to restore confidence, strengthen institutional resilience and create a more stable foundation for sustainable economic growth.
While acknowledging that challenges remain, Cardoso expressed optimism about the progress recorded so far, attributing the gains to collaboration between government institutions, market participants, development partners and the Nigerian public.
“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 award represents a significant international endorsement of the CBN’s reform agenda at a time when monetary stability, financial sector resilience and investor confidence remain central to Nigeria’s economic recovery efforts.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
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