Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has been named Central Bank Governor of the Year at the 2025 African Banker Awards held in Abidjan, Côte d’Ivoire.

The award was presented at a gala on Wednesday, May 28, and was conferred by African Banker magazine in recognition of what organisers described as Cardoso’s “bold and strategic” approach to monetary and regulatory reforms that have brought renewed confidence and stability to Nigeria’s financial system.

In a statement by the apex bank on Thursday, it was noted that the awards committee stated that the Central Bank under Cardoso’s leadership was recognised “for implementing key policy measures aimed at stabilising the naira, improving transparency in the foreign exchange market, and re-establishing policy credibility. These efforts have laid the groundwork for long-term macroeconomic resilience and renewed investor confidence,” the statement read.

Dr Nkiru Balonwu, Adviser to the Governor on Stakeholder Engagement and Strategic Communication, received the award on behalf of Cardoso.

She was joined on stage by the director of CBN’s monetary policy department, Dr Victor Oboh; the director of the banking supervision department, Dr Olubukola Akinwumi; and a member of the monetary policy committee, Dr Aloysius Uche Ordu.

According to the organisers, “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.”

Now in its 19th year, the African Banker Awards are organised by African Banker magazine in partnership with the African Development Bank Group, which serves as the official patron of the event.

The ceremony brings together senior government officials, commercial bankers, and development finance leaders from across the continent to celebrate excellence in African finance.