Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has been awarded Central Bank Governor of the Year at the 2025 African Banker Awards held in Abidjan, Côte d’Ivoire on May 28, 2025.
The recognition comes amid ongoing macroeconomic reforms and a recalibrated monetary policy framework under his leadership.
The award was presented by Omar Ben Yedder, Chair of the Awards Committee, who praised Cardoso for his “bold and strategic leadership” in steering Nigeria’s monetary system through a volatile economic cycle.
The committee specifically cited his efforts in stabilising the naira, enhancing foreign exchange market transparency, and rebuilding investor and public trust in the apex bank’s policy direction.
Since his appointment in 2023, Governor Cardoso has implemented a series of reforms aimed at repositioning the Central Bank as a disciplined, autonomous institution focused on core monetary functions. These include the unification of the exchange rate, improved coordination with fiscal authorities, and tighter interest rate policies to address inflationary pressures.
“This award affirms the Central Bank of Nigeria’s renewed focus on transparency, regulatory clarity, and institutional credibility,” Cardoso said in a brief statement following the announcement. “We remain committed to pursuing price stability, strengthening the financial system, and supporting the broader objectives of sustainable economic growth.”
The CBN under Cardoso has also moved to clean up the regulatory environment, address legacy intervention programmes, and reinforce its inflation-targeting regime, which has helped reduce speculative attacks on the naira and attract modest foreign inflows.
Analysts see the recognition as an endorsement of Nigeria’s ongoing efforts to restore monetary discipline and improve macroeconomic management, particularly in light of recent pressures on the naira and external reserves.
The African Banker Awards are among the most prestigious financial recognitions on the continent, celebrating excellence in banking and finance.
Cardoso’s win places Nigeria back at the forefront of monetary policy leadership in Africa after years of credibility concerns.
