LONDON (AP) — The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has been named Central Bank of the Year at the Central Banking Awards ceremony in London, a recognition of reforms aimed at stabilizing Africa’s largest economy.
Cardoso, who assumed office in 2023, dedicated the award to the Board, management, and staff of the CBN, stressing that the honor reflects collective efforts rather than personal achievement. “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 said.
The award comes at a time when central banks worldwide are grappling with inflationary pressures, volatile markets, and the impact of global economic shocks. Nigeria has faced its own challenges, including currency instability, rising inflation, and investor concerns about policy consistency.
Cardoso highlighted several measures undertaken by the CBN, including reforms in the foreign exchange market, steps to curb inflation, and investments in digital and financial infrastructure. He said the bank’s reform agenda is guided by restoring confidence, strengthening institutional resilience, and laying a foundation for sustainable growth.
International observers note that Nigeria’s recognition signals a broader effort to reassure global investors and partners that the country is committed to credible monetary policy. The award places the CBN alongside other central banks credited with navigating turbulent conditions while pursuing reforms.
Cardoso reaffirmed the bank’s commitment to safeguarding financial and monetary stability, preserving public confidence, and fulfilling its mandate with professionalism and accountability.
