The Central Bank of Nigeria (CBN) has been honoured by the Nigerian Economic Society (NES) for its role in strengthening Nigeria’s economic and financial institutions and supporting macroeconomic stability.
The apex bank received the NES Distinguished Organisation Award at the 67th Annual Conference of the Nigerian Economic Society, held in Abuja from September 7 to 10, 2026.
Director of the CBN’s Monetary Policy Department, Dr. Victor Oboh, accepted the award on behalf of the Governor, Mr. Olayemi Cardoso.
The recognition comes against the backdrop of sweeping reforms implemented by the central bank over the past three years, particularly in monetary policy, foreign exchange and the financial sector.
Among the measures credited to the CBN are reforms to the foreign exchange market, efforts to clear longstanding foreign exchange obligations and the discontinuation of Ways and Means financing to the Federal Government.
The bank has also pursued the implementation of the Payment System Vision 2028, alongside the recapitalisation of Nigeria’s banking industry.
The banking recapitalisation programme is aimed at strengthening financial institutions, improving their resilience and positioning the sector to compete more effectively in the global financial system.
The reforms have taken place during a period of significant economic adjustment, as policymakers have sought to address long-standing structural challenges while restoring confidence in Nigeria’s financial markets and institutions.
Reacting to the NES recognition, Cardoso described the award as an endorsement of the CBN’s institutional reforms and its broader 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.
“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.”
The award further places the CBN’s recent reform programme in the spotlight, particularly its efforts to strengthen monetary policy operations, improve the functioning of the foreign exchange market and reinforce the resilience of the banking sector.
The NES recognition also underscores the growing focus on institutional reforms as Nigeria continues to navigate economic pressures and pursue a more stable and competitive financial system.