Nigeria's Central Bank Governor Wins Central Bank of the Year Award

Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), accepted the 2026 Central Banking Central Bank of the Year Award in London, an achievement he attributed to the collective efforts of the bank's professionals.

Cardoso emphasized that the award was not a personal triumph but a testament to the dedication, integrity, and expertise of the CBN staff. He stated their work has strengthened the bank and bolstered confidence in Nigeria's economy. The CBN's reform agenda, initiated under his leadership since September 2023, aims to restore confidence, enhance institutional resilience and policy credibility, and build a foundation for sustainable economic growth.

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The award was not a personal achievement but a testament to the collective efforts of the CBN, particularly the professionals whose dedication, integrity, and expertise have strengthened the Bank and reinforced confidence in Nigeria’s economy.

Key reforms include unifying exchange rates, adopting orthodox monetary policy, and completing the recapitalization of Nigerian banks in March, which raised ₦4.7 trillion and strengthened the financial system against economic shocks. Under Cardoso's tenure, Nigeria's foreign exchange reserves grew to $50.1 billion as of June 9, reaching their highest level since January 2009.

He also acknowledged the support from the Federal government, market participants, development partners, and the Nigerian people. While recognizing that significant work lies ahead, Cardoso expressed optimism about the progress made and the renewed confidence in the economy. The CBN remains committed to preserving public trust, ensuring financial and monetary stability, and fulfilling its mandate with integrity and professionalism.

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significant work remains ahead, while expressing optimism about the progress made so far and the renewed confidence in the economy.