NES Honours CBN For Economic Reforms

The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society’s Distinguished Organisation Award for its institutional reforms and contribution to macroeconomic stability and economic development.

The award was presented at the 67th Annual Conference of the Nigerian Economic Society (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 against the backdrop of wide-ranging reforms implemented by the apex bank over the past three years across monetary policy, foreign exchange and the financial sector.

Among the reforms highlighted 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 the recapitalisation of the banking industry.

The NES said the measures had contributed to improvements in key macroeconomic indicators, including easing inflationary pressures, stronger external reserves and greater stability in the foreign exchange market.

It 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 system.

Receiving 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,” Cardoso said.

He said the recognition would further strengthen the CBN’s resolve to pursue macroeconomic stability, build a stronger financial system and support sustainable economic growth.

The governor added: “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 NES award comes shortly after the CBN was named Global Central Bank of the Year, adding to the growing international recognition of its reform agenda.

The twin recognitions place greater emphasis on the need for the apex bank to sustain the reforms and ensure that gains in monetary and financial stability translate into stronger economic opportunities for Nigerians.