Central Bank of Nigeria (CBN) Global Award 2026: Strategic Reforms, Economic Stabilisation and Institutional Excellence under the Leadership of Governor Olayemi Cardoso

This paper examines the recognition of the Central Bank of Nigeria (CBN) as Central Bank of the Year 2026 within the context of the reform agenda initiated under Governor Olayemi Cardoso in September 2023. Using a descriptive analytical approach and evidence from the CBN, IMF, World Bank, and FATF, the study assesses reforms in monetary policy, foreign exchange market liberalisation, institutional governance, and digital financial inclusion. Findings indicate that the reforms contributed to moderating inflationary pressures, clearing a US$7 billion FX backlog, strengthening external reserves, facilitating Nigeria's exit from the FATF grey list, and enhancing banking sector resilience. The paper concludes that the award reflects strengthened institutional credibility and improved macroeconomic management.