CBN Bags Distinguished Organisation Award From NES
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has been given the Distinguished Organisation Award by the Nigerian Economic Society (NES).
The award recognises the changes the bank has made in the way it manages money matters and its role in helping to keep Nigeria’s economy stable and growing.
The award was given at the 67th Annual Conference of the NES, which held in Abuja from September 7 to 10, 2026.
The Director of the Monetary Policy Department at the CBN, Dr. Victor Oboh, collected the award for the bank. He received it on behalf of the Governor of the CBN, Mr. Olayemi Cardoso, who could not be there in person.
This honour comes after three years of major changes the CBN has carried out in how it handles foreign exchange, banking rules, and money supply in the country.
Some of the changes mentioned by the organisers include the reforms carried out in the foreign exchange market, the payment of old foreign exchange debts that had been owed for a long time, and the decision to stop printing extra money to fund the federal government, a practice known as Ways and Means.
Other changes are the rollout of the Payment System Vision 2028 and the recapitalisation of banks in Nigeria, which is meant to make banks stronger and able to compete with banks around the world.
According to the organisers of the award, these changes have helped to improve important indicators of the economy. Inflation has started to ease, the country’s foreign reserves have grown stronger, and the foreign exchange market has become more settled. They also said that the gap between the official exchange rate and the black market rate has reduced to less than two per cent. In addition, money sent home by Nigerians abroad and other forms of foreign investment have increased, along with growing trust from investors in the Nigerian economy.
The CBN said these improvements are the result of continuous efforts by the bank to rebuild trust in the economy and to make the country’s financial system stronger.
This new award from the NES comes not long after the CBN was named Global Central Bank of the Year, which added to the international attention the bank’s reform programme has been receiving.
Speaking about the NES award, Governor Cardoso said it shows that the work being done by the bank is being recognised and appreciated. In his words, “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.”
He also said the award gives the bank more reason to continue working towards a stable economy, a stronger financial system, and long-term growth for the country. He said, “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.”
