Agency News
Barbara Bako, Abuja.
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, says the difficult reforms undertaken by the apex bank are beginning to strengthen confidence in the economy and lay the groundwork for sustainable growth.
Cardoso spoke in London on Wednesday while formally receiving the 2026 Central Bank of the Year Award, an international recognition of the CBN’s recent policy interventions and institutional reforms.
The governor said the award reflected the efforts of the bank’s workforce and the broader reform agenda pursued over the past two years to address economic vulnerabilities and restore credibility to monetary policy.
According to him, the CBN had implemented a series of measures aimed at tackling persistent inflation, reforming the foreign exchange market and expanding digital and financial infrastructure to support long-term economic development.
He noted that the reforms were introduced amid a challenging global economic environment that tested central banks across the world, including Nigeria.
Cardoso identified Nigeria’s exit from the Financial Action Task Force (FATF) grey list and the completion of the banking sector recapitalisation programme as important milestones achieved during the reform period.
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He said the achievements underscored the impact of coordinated efforts by regulatory institutions and other stakeholders in strengthening the country’s financial system.
The governor maintained that the CBN’s policy direction had been guided by the need to rebuild investor and public confidence, improve institutional resilience and create a more stable foundation for economic growth.
While receiving the award, Cardoso credited the bank’s board, management and staff for their role in implementing the reforms, describing the recognition as a collective achievement rather than an individual honour.
“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 expressed optimism that the gains recorded so far would support stronger economic performance in the years ahead, although he acknowledged that significant work remains to be done.
