CBN Governor Cardoso Wins 2026 Central Banking Award in London

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, according to the apex bank.

Mr Cardoso dedicated the award to the board, management, and staff of the CBN. He praised their 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.

Mr Cardoso noted that the bank’s reform agenda has focused on restoring confidence, strengthening institutional resilience, and laying a solid foundation for sustainable economic growth.

Since taking office in September 2023, the CBN has started several economic reforms to stabilize the economy. These include unifying exchange rates across multiple FX windows and adopting a traditional monetary policy.

The CBN also oversaw the recapitalisation of Nigerian banks, which was completed in March, raising ₦4.7 trillion. This exercise strengthened Nigerian banks’ capital bases, making the financial system strong enough to handle economic shocks.

Under Mr Cardoso’s leadership, Nigeria’s foreign exchange reserves grew to $50.1 billion as of June 9, the highest since January 2009, when reserves were $50.6 billion.

Speaking about the award, Mr Cardoso credited the achievements to the support of the Federal government, market participants, development partners, and, most importantly, the resilience and confidence of the Nigerian people.

He acknowledged that there is still significant work to do but expressed optimism about the progress made so far and the renewed confidence in the economy.

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