The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society (NES) Distinguished Organisation Award for its institutional reforms and contributions to macroeconomic stability and economic development.
The award was presented at the 67th Annual Conference of the NES, held in Abuja .
Director, Monetary Policy Department at the CBN, Dr Victor Oboh, received the award on behalf of the Governor, Olayemi Cardoso.
The recognition comes against the backdrop of reforms implemented by the apex bank over the past three years across the monetary policy, foreign exchange and financial sectors.
Among the measures cited were reforms to the foreign exchange market, clearance of longstanding foreign exchange obligations, the cessation of Ways and Means financing to the Federal Government, implementation of the Payment System Vision 2028, and recapitalisation of the banking industry.
The reforms, according to the NES, have contributed to improvements in key macroeconomic indicators, including easing inflationary pressures, stronger external reserves and greater stability in the foreign exchange market.
The society also noted that the premium 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 attributed the developments to sustained policy measures aimed at restoring confidence in the economy and strengthening Nigeria’s monetary and financial system.
The NES award follows the CBN’s recent recognition as Global Central Bank of the Year, further adding to international and domestic acknowledgement of its reform programme.
Reacting to the award, Cardoso described it as an endorsement of the bank’s commitment to excellence, institutional resilience and national development.
He said the recognition reinforced the CBN’s resolve to promote macroeconomic stability, build a stronger financial system and support sustainable economic growth.
“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,” Cardoso said.
