CBN wins NES award for economic reforms

The Central Bank of Nigeria has received the Nigerian Economic Society’s Distinguished Organisation Award for its reforms aimed at strengthening Nigeria’s macroeconomic stability and financial system.

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, Olayemi Cardoso.

The recognition comes after a series of reforms implemented by the apex bank over the past three years across the monetary, foreign exchange and financial sectors.

Among the reforms highlighted by the NES were the overhaul of the foreign exchange market, clearance of longstanding foreign exchange obligations, the discontinuation of Ways and Means financing to the Federal Government, implementation of the Payment System Vision 2028 and recapitalisation of the banking industry.

The measures, according to the organisers, have contributed to improvements in key economic indicators, including greater stability in the foreign exchange market, stronger external reserves and easing inflationary pressures.

The NES also noted that the gap between the official and parallel foreign exchange markets had narrowed to less than two per cent, while remittances, capital inflows and investor confidence had improved.

The CBN said the developments reflected its ongoing efforts to restore confidence in the economy and strengthen Nigeria’s monetary and financial architecture.

Reacting to the recognition, Cardoso described the award as an endorsement of the bank’s reform programme and commitment to national development.

“The Distinguished Organisation Award is a testament to the Central Bank of Nigeria’s unwavering pursuit of excellence, institutional resilience, and commitment to national development,” he said.

According to the governor, the recognition further strengthens the CBN’s resolve to maintain macroeconomic stability, build a stronger financial system and support 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.

The NES award comes shortly after the CBN was recognised as Global Central Bank of the Year, adding to growing international recognition of the bank’s recent policy reforms.