The Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, on Wednesday reaffirmed the Bank’s commitment to preserving public confidence, safeguarding financial and monetary stability, and fulfilling its mandate with integrity, professionalism, and accountability.
The CBN governor made the reaffirmation while formally receiving the Central Bank of the Year Award conferred on the Bank at the Central Banking Awards ceremony in London.
Cardoso said at the award presentation ceremony that he dedicated the honour to the Board, management, and staff of the apex Bank for their steadfast commitment to institutional reform and economic stability.
In his acceptance speech, Cardoso expressed appreciation to Central Banking Publications and the award judges for the recognition and congratulated fellow institutions and individuals honoured during the event.
The CBN Governor stressed that the award was not a personal achievement, but a testament to the collective efforts of the entire Central Bank of Nigeria, particularly the professionals whose dedication, integrity, and expertise – often exercised away from public attention – have strengthened the Bank and reinforced confidence in Nigeria’s financial system and the economy.
“I accept this award on behalf of the Board, Management and staff of the Central Bank of Nigeria,” Cardoso said.
“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 added.
Reflecting on the global economic landscape, Cardoso noted 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, implement major reforms in the foreign exchange market, and invest in critical digital and financial infrastructure to support the country’s long-term economic development.
Cardoso also pointed to key milestones achieved during the period, including Nigeria exiting the Financial Action Task Force (FATF) grey list and the successful completion of the banking sector recapitalisation exercise.
These accomplishments, he noted, reflected the collaborative efforts of multiple institutions and stakeholders.
The Bank’s reform agenda, the Governor highlighted, has been guided by a clear objective – to restore confidence, strengthen institutional resilience and policy credibility, and lay a solid foundation for sustainable economic growth.
Acknowledging that significant work remained ahead, Cardoso expressed optimism about the progress made so far and the renewed confidence emerging across the economy as a result of the intervention of the CBN.
He attributed these gains to the support of the Federal Government, market participants, development partners, and, most importantly, the resilience and confidence of the Nigerian people.
“We receive this recognition with humility,” he said. “We see it not as a destination, but as an encouragement to continue the important work ahead,” he said.
The award represents significant international recognition for the Central Bank of Nigeria at a time when monetary and financial sector reforms remain central to the country’s economic recovery and long-term growth agenda.
