Cardoso: Recognition validates Bank’s pursuit of macroeconomic stability
• CBN wins NES Distinguished Organisation Award for landmark economic reforms
• Cardoso hails recognition as validation of bank’s macroeconomic stability drive
• Award follows CBN’s recent global “Central Bank of the Year” honour
The Central Bank of Nigeria (CBN) has clinched the Nigerian Economic Society’s (NES) Distinguished Organisation Award, a recognition of the apex bank’s institutional reforms and its role in steering the country’s macroeconomic stability, Confiance News has learned.
The honour was conferred at the 67th Annual Conference of the NES, held in Abuja between September 7 and 10, 2026, and comes on the heels of the bank’s recent global recognition as Central Bank of the Year.
Director of the Monetary Policy Department at the CBN, Dr. Victor Oboh, received the award on behalf of Governor Olayemi Cardoso, according to details obtained by Confiance News.
Reforms span forex, banking recapitalisation, debt financing
The recognition, Confiance News gathered, reflects a string of reforms the CBN has rolled out across the monetary, foreign exchange and financial sectors over the past three years.
Measures cited by the NES include an overhaul of the foreign exchange market, the clearing of long-outstanding forex obligations, the halt of Ways and Means financing to the federal government, the rollout of the Payment System Vision 2028, and the recapitalisation of Nigerian banks aimed at building a more resilient and globally competitive financial sector.
FX premium narrows to under 2% as reserves strengthen
Confiance News confirmed that the reforms have helped ease inflationary pressure, shore up external reserves and stabilise the foreign exchange market. The gap between the official and parallel market rates has also narrowed to under two per cent, while remittance inflows, capital flows and investor confidence have all improved, the NES noted.
The CBN linked these gains to sustained policy measures designed to restore confidence in the economy and reinforce the country’s monetary and financial architecture.
Cardoso: Award reflects bank’s resilience and reform commitment
Reacting to the honour, Cardoso described it as a validation of the CBN’s dedication to excellence, institutional resilience and national development.
”The Distinguished Organisation Award is a testament to the Central Bank of Nigeria’s unwavering pursuit of excellence, institutional resilience, and commitment to national development,” the governor said, according to a statement sighted by Confiance News.
He added that the award strengthens the bank’s resolve to sustain macroeconomic stability, deepen financial system reforms and support long-term economic growth.
”As it continues to implement reforms and innovate to fulfil its mandate, the CBN remains firmly committed to building a stronger economy and a brighter future for Nigeria,” Cardoso said.
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