The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, received the 2026 Central Banking Central Bank of the Year Award in London on Wednesday, the apex bank said.

Mr Cardoso dedicated the award to the board, management, and staff of the CBN, acknowledging their steadfast commitment to institutional reforms and economic stability.

“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,” he said.

According to the CBN boss, the bank’s reform agenda has been guided by a clear objective: restoring confidence, strengthening institutional resilience and policy credibility, and laying a solid foundation for sustainable economic growth.

The CBN, under Mr Cardoso’s leadership, has embarked on several economic reforms to stabilise the country’s economy since taking office in September 2023, including unifying exchange rates across multiple FX windows and adopting an orthodox monetary policy.

The banking industry regulator also oversaw the recapitalisation of Nigerian banks, which was completed in March, raising ₦4.7 trillion. CBN said the exercise bolstered Nigerian banks’ capital bases, making the financial system robust enough to absorb economic shocks.

Under his leadership, Nigeria’s foreign exchange reserves had grown to $50.1 billion as of 9 June, the highest since January 2009, when the external reserves totalled $50.6 billion.

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Speaking further on the award, Mr Cardoso attributed the gains to the support of the Federal government, market participants, development partners, and, most importantly, the resilience and confidence of the Nigerian people.

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

He reaffirmed the CBN’s commitment to preserving public confidence, safeguarding financial and monetary stability, and fulfilling its mandate with integrity, professionalism, and accountability.

Cardoso wins 2026 Central Bank of the Year Award in London

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