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From Adanna Nnamani, Abuja
The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society (NES) Distinguished Organisation Award for its economic reforms and contributions to macroeconomic stability.
The award was presented at the 67th Annual Conference of the NES in Abuja, with the Director, Monetary Policy Department, CBN, Dr Victor Oboh, receiving it on behalf of the Governor, Olayemi Cardoso.
The recognition followed a series of reforms implemented by the apex bank over the past three years, particularly in the foreign exchange, monetary policy and financial sectors.
Key measures include reforms to the foreign exchange market, the clearance of longstanding foreign exchange obligations, the cessation of Ways and Means financing to the Federal Government, the Payment System Vision 2028 and the recapitalisation of banks.
According to the organisers, the reforms have contributed to improvements in key macroeconomic indicators, including easing inflationary pressures, stronger external reserves and greater stability in the foreign exchange market.
They also noted that the gap between the official and parallel foreign exchange markets had narrowed to less than two per cent, while remittance and capital inflows, as well as investor confidence, had improved.
The CBN attributed the gains to its ongoing policy measures aimed at restoring confidence and strengthening the monetary and financial system.
Receiving the award, Cardoso said the recognition was a validation of the bank’s commitment to institutional resilience and national economic development.
“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 said.
Cardoso added that the bank would remain focused on implementing reforms and innovating to fulfil its mandate.
“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.”
The NES recognition comes shortly after the CBN emerged as Global Central Bank of the Year, further drawing attention to the reforms being implemented under the current leadership.
