The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society (NES) Distinguished Organisation Award in recognition of its reforms and contributions to macroeconomic stability and economic development.
The award was presented during the 67th Annual Conference of the NES, held in Abuja from September 7 to 10, 2026.
Director of the Monetary Policy Department, Dr. Victor Oboh, received the award on behalf of the CBN Governor, Mr. Olayemi Cardoso.
According to the NES, the award recognises reforms implemented by the apex bank across the monetary, foreign exchange and financial sectors over the past three years.
Among the initiatives cited were reforms in the foreign exchange market, the clearance of outstanding foreign exchange obligations, the discontinuation of Ways and Means financing to the Federal Government, implementation of the Payment System Vision 2028, and the recapitalisation of the banking sector.
The society said the measures had contributed to improvements in key macroeconomic indicators, including easing inflationary pressures, strengthening external reserves and improving stability in the foreign exchange market.
NES also noted that the gap between the official and parallel foreign exchange markets had narrowed to less than two per cent, while remittance inflows, capital inflows and investor confidence had improved.
The CBN said the developments reflected ongoing efforts to restore confidence in the economy and strengthen Nigeria’s monetary and financial systems.
The recognition comes shortly after the CBN was named Global Central Bank of the Year, further highlighting international recognition of its reform programme.
Speaking on the award, Cardoso described the honour as a validation of the bank’s commitment to institutional excellence and economic 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.
He added that the recognition reinforced the bank’s commitment to maintaining macroeconomic stability, strengthening the financial system and supporting 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.
Refinement Notes
•Removed promotional and repetitive language to achieve a cleaner straight-news style.
•Tightened the lead to focus on the award and its significance.
•Retained key facts, reform measures and attribution.
•Kept the governor’s direct quotes because they are relevant and newsworthy.
•Reduced editorial phrasing such as “further bolstering international recognition” and replaced it with more neutral wording.
