As Cardoso Leads CBN to Global Acclaim

Yemi Cardoso, Governor of the Central Bank of Nigeria (CBN), accepted the prestigious Central Bank of the Year award in London on June 10, 2026. He described the recognition as encouragement to continue the vital work ahead, rather than a final destination. Cardoso emphasized that the award belongs to the entire CBN team, including the board, management, and staff, for their integrity, expertise, and commitment to public service.

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We receive this recognition with humility. We see it, not as a destination, but as encouragement to continue the important work ahead.

Under Cardoso's leadership, the CBN has made significant strides in stabilizing Nigeria's financial system, which was previously described as being on the brink of hyperinflation and fiscal bankruptcy. Former CBN Governor Sanusi Lamido Sanusi had noted the severe challenges inherited in May 2023, including a falling naira, rising inflation, and a loss of CBN autonomy. Cardoso and his team have focused on restoring autonomy, good corporate governance, transparency, and orthodox monetary policy.

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I accept this award on behalf of the Board, Management and staff of the CBN. Above all, it belongs to the many dedicated professionals who serve our institution with integrity, expertise, and an unwavering commitment to the public good.

The CBN's achievements include combating high inflation, rebuilding depleted foreign exchange reserves, implementing transparent monetary policies, and addressing a backlog of foreign exchange obligations. These efforts have helped narrow the gap between official and parallel market exchange rates, signaling a return to financial stability and confidence in the Nigerian economy.

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the responsibility entrusted to central banks is a solemn one – to preserve confidence, safeguards to stability and to create the conditions in which economies and societies can prosper.