The Central Bank of Nigeria (CBN) has been honoured with the Nigerian Economic Society (NES) Distinguished Organisation Award for its role in driving institutional reforms and supporting macroeconomic stability in the country.
The award was presented at the 67th Annual Conference of the NES held in Abuja from September 7 to 10, 2026.
The Director of the CBN’s Monetary Policy Department, Dr Victor Oboh, received the award on behalf of the Governor, Olayemi Cardoso.
The recognition comes against the backdrop of wide-ranging reforms implemented by the apex bank over the past three years across monetary policy, foreign exchange and the financial sector.
Among the reforms highlighted were changes to the foreign exchange market, the clearance of longstanding foreign exchange obligations, the discontinuation of Ways and Means financing to the Federal Government, implementation of the Payment System Vision 2028 and the recapitalisation of the banking industry.
According to the NES, the measures have contributed to improvements in key macroeconomic indicators, including reduced inflationary pressures, stronger external reserves and increased stability in the foreign exchange market.
The society also noted that the gap between the official and parallel foreign exchange markets had narrowed to less than two per cent, while remittances, capital inflows and investor confidence had improved.
The CBN said the developments reflected the impact of ongoing policy measures aimed at restoring confidence in the economy and strengthening Nigeria’s monetary and financial system.
Reacting to the recognition, Cardoso described the award as an endorsement of the bank’s commitment to institutional excellence, 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,” Cardoso said.
He said the recognition would further reinforce the CBN’s commitment to maintaining macroeconomic stability, strengthening the financial system and promoting sustainable 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,” the governor added.
The NES award comes shortly after the CBN was named Global Central Bank of the Year, adding to growing recognition of the apex bank’s reform programme and policy initiatives.
Comment here