‎Nigeria’s CBN named Central Bank of the Year 2026

By Chioma Obinagwam
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‎Nigeria’s years of painful monetary reform have just earned international validation, and Olayemi Governor Cardoso says the award belongs to his team, not to him.
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‎Nigeria’s apex bank has claimed one of global finance’s most coveted honours, as the Central Bank of Nigeria received the Central Bank of the Year Award in London — a recognition that its governor says belongs not to leadership, but to the quiet professionals who rebuilt the institution from within.
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‎CBN Governor Olayemi Cardoso formally received the award at the Central Banking Awards ceremony held in London on Wednesday, June 10, 2026, Confiance News learned. In his acceptance speech, Cardoso dedicated the honour to the Board, management, and staff of the Bank, citing their steadfast commitment to institutional reform and economic stability.
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‎”I accept this award on behalf of the Board, Management and staff of the Central Bank of Nigeria,” Cardoso was quoted as saying. “Above all, it belongs to the many dedicated professionals who serve our institution with integrity, expertise, and an unwavering commitment to the public good.”
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‎The governor was emphatic that the recognition was not a personal achievement. Speaking before fellow award recipients and global banking officials, Cardoso stressed that the prize was a testament to the collective efforts of professionals whose dedication and expertise, often exercised away from public attention, had strengthened the Bank and reinforced confidence in Nigeria’s economy.
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‎Reform Agenda Under the Spotlight
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‎Reflecting on the global economic landscape, Cardoso acknowledged that recent years had presented significant challenges for central banks worldwide, with Nigeria facing its own share of economic pressures and policy tests.
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‎He highlighted several difficult but necessary measures undertaken by the CBN during the reform period, including efforts to address elevated inflation, the implementation of major foreign exchange market reforms, and sustained investment in digital and financial infrastructure to support long-term economic development.
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‎Confiance News gathered that the governor also pointed to key milestones achieved under his watch, among them Nigeria’s removal from the Financial Action Task Force (FATF) grey list and the successful completion of the banking sector recapitalisation exercise. Cardoso noted that both accomplishments reflected collaborative efforts spanning multiple institutions and stakeholders.
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‎According to the CBN governor, the Bank’s reform agenda has been guided by one clear objective: restoring confidence, strengthening institutional resilience and policy credibility, and laying a solid foundation for sustainable economic growth.
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‎Optimism, With Work Still Ahead
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‎While acknowledging that significant work remains, Cardoso struck an optimistic tone about the progress recorded so far and the renewed confidence emerging across the Nigerian economy.
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‎He attributed the gains to the support of the Federal Government, market participants, development partners, and what he described as the resilience and confidence of the Nigerian people.
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‎”We receive this recognition with humility,” Cardoso said, as obtained by Confiance News from the official text of his address. “We see it not as a destination, but as encouragement to continue the important work ahead.”
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‎The CBN governor reaffirmed the apex bank’s commitment to preserving public confidence, safeguarding financial and monetary stability, and fulfilling its mandate with integrity, professionalism, and accountability.
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‎The Central Banking Awards, organised by Central Banking Publications, are widely regarded as a leading benchmark for excellence in central banking globally. For Nigeria, the recognition arrives at a pivotal moment, as monetary and financial sector reforms remain central to the country’s economic recovery and long-term growth agenda.