The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society’s (NES) Distinguished Organization Award in recognition of its institutional reforms and contributions to 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 CBN’s Monetary Policy Department, Dr. Victor Oboh, received the award on behalf of the Governor, Mr. Olayemi Cardoso.
The recognition comes amid a series of reforms implemented by the apex bank over the past three years across the monetary, foreign exchange and financial sectors.
Key measures highlighted include reforms to the foreign exchange market, clearance of longstanding foreign exchange obligations, cessation of Ways and Means financing to the Federal Government, implementation of the Payment System Vision 2028 and recapitalization of the banking industry.
The initiatives are aimed at strengthening the resilience and competitiveness of Nigeria’s financial system while supporting macroeconomic stability.
According to the organizers, the reforms have contributed to improvements in key economic indicators, including easing inflationary pressures, strengthening external reserves and promoting greater stability in the foreign exchange market.
The NES also noted that the premium between the official and parallel foreign exchange markets had narrowed to less than two per cent, while remittance and capital inflows, as well as investor confidence, had improved.
The CBN attributed the developments to its ongoing policy measures to restore confidence in the economy and strengthen the nation’s monetary and financial system.
The NES recognition comes shortly after the CBN was named Global Central Bank of the Year, adding to international recognition of its reform programme and policy initiatives.
Reacting to the award, Cardoso described it as an endorsement of the bank’s commitment to excellence, institutional resilience and national development.
“The Distinguished Organization 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 said the recognition further reinforced the bank’s commitment to achieving macroeconomic stability, building a stronger 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,” Cardoso said.
