African Banker magazine has recognized Governor Olayemi Cardoso of the Central Bank of Nigeria (CBN) with an award for her “bold and strategic” leadership in implementing monetary and regulatory reforms that have restored stability and confidence in Nigeria’s financial system.
According to the Awards Committee, the CBN under Cardoso has taken “swift and decisive action to address deep distortions in Nigeria’s foreign exchange market” and introduced “a clear strategy to tackle inflation.”
The judges credited Cardoso with re-establishing investor confidence by implementing transparency-enhancing reforms and resetting the Bank’s monetary policy framework. These include unifying Nigeria’s exchange rate windows, restoring market-based FX pricing, and introducing measures to restore liquidity in the forex market—steps widely praised by both domestic and international stakeholders.
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Dr. Nkiru Balonwu, Adviser to the Governor on Stakeholder Engagement and Strategic Communication, accepted the award on behalf of the CBN.
She was joined on stage by Dr. Victor Oboh, Director of the Monetary Policy Department, and Dr. Olubukola Akinwumi, Director of Banking Supervision, and later during the proceedings by Dr. Aloysius Uche Ordu, a member of the Bank’s Monetary Policy Committee.
“The award reflects the Committee’s recognition of Governor Cardoso’s recent achievements and the Central Bank’s critical role in addressing market imbalances and repositioning the Nigerian economy for sustainable growth,” organizers said.
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