Cardoso receives central bank of the year award

Mr Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), was on Wednesday received the Central Bank of the Year Award at the Central Banking Awards ceremony held in London.

This is contained in a statement issued by the Corporate Communications Department of the CBN in Abuja on Thursday.

The statement quoted Cardoso as dedicating the award to the board, management, and staff of the apex bank for their steadfast commitment to institutional reform and economic stability.

In his acceptance speech, the CBN governor expressed appreciation to Central Banking Publications and the award judges for the recognition. He also congratulated fellow institutions and individuals honoured during the event.

He said that the award was not a personal achievement but a testament to the collective efforts of the entire CBN, particularly the professionals.

He said that their dedication, integrity, and expertise, often exercised away from public attention, had strengthened the CBN and reinforced confidence in Nigeria’s economy.

“I accept this award on behalf of the Board, Management and staff of the CBN.

“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.

Reflecting on the global economic landscape, Cardoso said that recent years had presented significant challenges for central banks worldwide, with Nigeria facing its own share of economic pressures and policy tests.

He highlighted several difficult but necessary measures undertaken by the CBN, including efforts to address elevated inflation.

Cardoso also highlighted efforts to implement major reforms in the foreign exchange market, and to invest in critical digital and financial infrastructure to support the country’s long-term economic development.

He listed key milestones achieved during the period, including Nigeria’s removal from the Financial Action Task Force (FATF) grey list and the successful completion of the banking sector recapitalisation exercise.

According to him, these accomplishments reflect the collaborative efforts of multiple institutions and stakeholders.

“The Bank’s reform agenda has been guided by a clear objective: restoring confidence, strengthening institutional resilience and policy credibility, and laying a solid foundation for sustainable economic growth,” he said.

The CBN governor said that significant work remained ahead, but expressed optimism about the progress made so far and the renewed confidence emerging across the economy.

He attributed these gains to the support of the Federal Government, market participants, development partners, and the resilience and confidence of the Nigerian people.

“We receive this recognition with humility. We see it, not as a destination, but as encouragement to continue the important work ahead,” he said.

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

The News Agency of Nigeria (NAN) reports that the award is coming at a time when monetary and financial sector reforms remain central to Nigeria’s economic recovery and long-term growth agenda.

It represents significant international recognition for the CBN.(NAN) (www.nannews.ng)

Edited by Deji Abdulwahab