CBN’s Cardoso Clinches Global Honour as Central Bank of the Year in London

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has formally received the Central Bank of the Year Award at the 2026 Central Banking Awards held in London, in what is being viewed as significant international recognition of Nigeria’s ongoing monetary and financial reforms.
The award, presented on Wednesday, June 10, 2026, highlights Nigeria’s reform progress amid a turbulent global economic environment marked by inflationary pressures, currency volatility, and tightening financial conditions across major economies.
“This Award Belongs to the Institution, Not Me” — Cardoso
In his acceptance remarks, Cardoso dedicated the honour to the Board, management, and staff of the Central Bank of Nigeria, stressing that the recognition reflects collective institutional discipline rather than personal achievement.
He praised the often-unseen technical work of central bank professionals, noting that their commitment to integrity, policy expertise, and public service has played a critical role in restoring confidence in Nigeria’s financial system.
“I accept this award on behalf of the Board, Management and staff of the Central Bank of Nigeria,” he said. “Above all, it belongs to the many dedicated professionals who serve our institution with integrity, expertise, and an unwavering commitment to the public good.”
He also congratulated other global institutions and individuals recognised at the ceremony, describing the awards as a celebration of excellence in global central banking practice.
Reform Measures Under Global Scrutiny
Cardoso said the global macroeconomic environment has placed unprecedented pressure on central banks, requiring difficult but necessary policy decisions.
According to him, the Central Bank of Nigeria has implemented a series of bold reforms aimed at stabilising the economy, including measures to address elevated inflation, overhaul the foreign exchange market framework, and strengthen financial system transparency.
He further noted that the bank has invested in digital and financial infrastructure reforms designed to enhance efficiency, deepen market confidence, and support long-term economic growth.
Key Economic Milestones Highlighted
The CBN Governor pointed to several landmark achievements recorded under the current reform agenda, including Nigeria’s removal from the Financial Action Task Force (FATF) grey list and the successful completion of the banking sector recapitalisation programme.
He described these milestones as outcomes of coordinated efforts between regulatory institutions, financial stakeholders, and international development partners.
“These achievements reflect what is possible when institutions work together with clarity of purpose,” he said.
Stabilisation, Confidence, and Policy Direction
Cardoso reiterated that the core objective of the CBN’s reform programme is to restore macroeconomic stability, strengthen institutional resilience, and rebuild confidence in monetary policy management.
He acknowledged that while progress has been made, significant challenges remain, particularly in sustaining inflation control, stabilising exchange rate dynamics, and deepening financial inclusion.
However, he expressed optimism that ongoing reforms are already yielding early signs of improved confidence across markets and the broader economy.
He attributed the progress to collaboration with the Federal Government, engagement with market participants, support from development partners, and the resilience of Nigerians.
Global Validation of Nigeria’s Financial Reforms
The award is widely seen as a boost for Nigeria’s financial sector reputation at a time when investor confidence and macroeconomic reforms remain central to the country’s economic recovery strategy.
It also signals growing international recognition of the Central Bank of Nigeria’s policy direction under Cardoso’s leadership, particularly its emphasis on transparency, stability, and institutional credibility.
As global central banks continue to navigate complex economic headwinds, Nigeria’s recognition in London places its reform journey firmly on the international financial map.
CBN Governor Olayemi Cardoso receives the Central Bank of the Year Award in London, dedicates honour to staff, highlights Nigeria’s economic reforms, FATF exit, and banking recapitalisation achievements.