Yemisi Izuora
The Central Bank of Nigeria (CBN) has been rewarded by the Nigerian Economic Society’s (NES) with Distinguished Organisation Award in recognition of its institutional reforms and contributions to Nigeria’s macroeconomic stability and economic development.
The award was presented at the 67th Annual Conference of the NES, held in Abuja from September 7 to 10, 2026.
Director of the Monetary Policy Department at the CBN, Dr. Victor Oboh, received the award on behalf of the Governor of the bank, Mr. Olayemi Cardoso.
The recognition comes amid a series of reforms undertaken by the apex bank across the monetary, foreign exchange and financial sectors over the past three years.
Among the measures highlighted were reforms to the foreign exchange market, the clearance of longstanding foreign exchange obligations, the cessation of Ways and Means financing to the federal government, the implementation of the Payment System Vision 2028, and the recapitalisation of the Nigerian banking industry, aimed at creating a stronger, more resilient, and globally competitive financial system.
According to the organisers, the reforms have improved key macroeconomic indicators, including easing inflationary pressures, strengthening external reserves, and greater stability in the foreign exchange market.
It also noted that the premium between the official and parallel foreign exchange markets had narrowed to less than two per cent, and that remittance and capital inflows, as well as investor confidence, had improved.
The CBN attributed the developments to ongoing policy measures to restore confidence in the economy and to strengthen the country’s monetary and financial system.
The NES recognition follows the CBN’s recent emergence as Global Central Bank of the Year, further bolstering international recognition of its reform programme and policy initiatives.
Speaking on the NES award, Cardoso described the recognition as an endorsement of the institution’s commitment to 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,” the governor said.
He added that the award reinforced the bank’s commitment to macroeconomic stability, a stronger financial system and 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,” Cardoso said.