The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society (NES) Distinguished Organisation Award for its institutional reforms and contributions to Nigeria’s macroeconomic stability and economic development.
The award was presented to the apex bank at the 67th Annual Conference of the NES.
The recognition comes amid a series of reforms undertaken by the CBN across the monetary, foreign exchange and financial sectors over the past three years.
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Among the measures highlighted were reforms to the foreign exchange market, clearance of longstanding foreign exchange obligations, cessation of Ways and Means financing to the Nigerian Government and implementation of the Payment System Vision 2028.
The recapitalisation of the Nigerian banking industry, aimed at creating a stronger, more resilient and globally competitive financial system, was also highlighted.
According to the organisers, the reforms had improved key macroeconomic indicators, including easing inflationary pressures, strengthening external reserves and promoting greater stability in the foreign exchange market.
The NES recognition follows the CBN’s recent emergence as Global Central Bank of the Year, further strengthening international recognition of its reform programmes and policy initiatives.
Acknowledging the award, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, described the recognition as an endorsement of the institution’s commitment to excellence, resilience and 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,” the governor said.
He added that the award reinforced the bank’s commitment to macroeconomic stability, a stronger financial system and sustainable economic growth.
