CBN Receives Distinguished Award for Economic Reforms

On September 10, 2026, the Central Bank of Nigeria (CBN) was awarded the Nigerian Economic Society’s Distinguished Organisation Award during the 67th Annual Conference held in Abuja from September 7 to 10. Dr. Victor Oboh, Director of the CBN’s Monetary Policy Department, accepted the award on behalf of Governor Olayemi Cardoso.

This recognition acknowledges the CBN's reforms over the past three years, which include changes to the foreign exchange market, the clearance of outstanding FX obligations, and the cessation of Ways and Means financing to the Federal Government. Additional measures include the ongoing recapitalisation of Nigerian banks and the implementation of the Payment System Vision 2028.

The NES noted that these reforms have led to improvements in macroeconomic indicators such as external reserves, inflation, and foreign exchange market stability, with the gap between official and parallel-market exchange rates narrowing to below two percent. However, economic pressures remain a concern for Nigerian households and businesses.