Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has been named Central Bank Governor of the Year, receiving the prestigious award at the Central Banking Awards ceremony held in London.
The recognition marks a significant international endorsement of the Central Bank of Nigeria’s ongoing reform programme and comes at a time when the institution is implementing wide-ranging monetary and financial sector policies aimed at stabilising the economy and restoring investor confidence.
Accepting the award, Cardoso expressed gratitude to Central Banking Publications and the panel of judges for the honour, describing the recognition as a reflection of the collective efforts of the entire Central Bank rather than an individual accomplishment.
He dedicated the award to the board, management and staff of the apex bank, commending their commitment to institutional reforms and economic stability despite challenging operating conditions.
“I accept this award on behalf of the Board, Management and staff of the Central Bank of Nigeria.
“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 CBN governor noted that much of the work that earned the institution global recognition had been carried out quietly by professionals whose contributions often remain outside public view.
According to him, their dedication, expertise and commitment to excellence have helped strengthen the institution and rebuild confidence in Nigeria’s financial system.
Reflecting on developments in the global economy, Cardoso observed that central banks around the world have faced considerable challenges in recent years, with Nigeria also navigating a difficult economic environment characterised by inflationary pressures and market uncertainties.
He said the Central Bank had undertaken a number of difficult but necessary reforms designed to address structural weaknesses and create a more resilient economic framework.
Among the major policy initiatives highlighted were measures to tackle persistently high inflation, reforms within the foreign exchange market, and investments in critical digital and financial infrastructure aimed at supporting long-term economic growth.
Cardoso also pointed to several milestones achieved under the reform programme, including Nigeria’s removal from the Financial Action Task Force (FATF) grey list and the successful execution of the banking sector recapitalisation exercise.
He emphasised that these achievements were not the result of the Central Bank’s efforts alone but reflected collaboration among various institutions, stakeholders and development partners.
According to him, the guiding objective of the bank’s reform agenda has been to restore confidence in the financial system, strengthen institutional credibility and resilience, and establish a foundation for sustainable economic expansion.
While acknowledging that significant challenges remain, Cardoso said the progress recorded so far demonstrates that the country is moving in the right direction.
He attributed the gains achieved to the support of the federal government, cooperation from market participants, contributions from international partners and, most importantly, the resilience of Nigerians.
“We receive this recognition with humility,” he said.
The CBN governor stressed that the award should not be viewed as the culmination of the bank’s reform efforts but rather as motivation to continue pursuing policies that promote stability and economic growth.
“We see it not as a destination, but as encouragement to continue the important work ahead,” he added.
Cardoso reaffirmed the commitment of the Central Bank to maintaining public trust, preserving monetary and financial stability and carrying out its statutory responsibilities with professionalism, accountability and integrity.
The award represents a major boost for the Central Bank’s international profile and underscores growing recognition of the institution’s reform efforts as Nigeria seeks to strengthen economic recovery and lay the groundwork for long-term development.
