Olayemi Cardoso, the Central Bank of Nigeria's governor, says reform efforts are restoring economic confidence. He made the remarks after collecting the Central Bank of the Year Award in London on Wednesday.
Cardoso accepted the honour at the Central Banking Awards ceremony. He credited the achievement to collective work by the CBN's board, management and staff.
"I accept this award on behalf of the Board, Management and staff of the Central Bank of Nigeria," he told the gathering. "Above all, it belongs to the many dedicated professionals who serve our institution with integrity, expertise, and an unwavering commitment to the public good."
According to him, the recognition reflects progress in three key areas. These include foreign exchange reforms, banking sector recapitalisation and institutional strengthening.
Central banks worldwide have faced mounting challenges in recent times. Nigeria, he noted, navigated its own economic pressures and policy shifts.
Cardoso highlighted several tough but vital steps taken by the apex bank. Controlling inflation, overhauling the forex market and building digital infrastructure topped the list.
Two major milestones stand out from the reform drive. Nigeria's removal from the Financial Action Task Force grey list ranks first.
Successful completion of the banking sector recapitalisation exercise marks the second achievement. Both, he stressed, involved multiple institutions and stakeholders working in tandem.
The CBN governor cautioned against viewing this as personal success. Instead, he framed it as validation of institutional reform efforts.
"We receive this recognition with humility," Cardoso told reporters. "We see it not as a destination, but as encouragement to continue the important work ahead."
Despite remaining obstacles, signals point toward recovering confidence across Nigeria's economy. Government support, market players and development partners have all contributed to this turnaround.
In his words, rebuilding public trust remains a work in progress. Yet foundations laid so far support long-term stability and expansion.
Cardoso reaffirmed the central bank's dedication to protecting monetary and financial stability. Professionalism, accountability and solid policy execution will remain its tools.
The award comes as Nigeria pursues sweeping monetary and financial reforms. Officials say these changes aim to stabilise the economy and attract investors.
Strengthening the financial system remains equally important to policymakers. Cardoso's remarks suggest confidence is gradually returning to markets.
