ABUJA, Nigeria — The Central Bank of Nigeria has received the Nigerian Economic Society’s Distinguished Organisation Award.

The award was presented at the Society’s 67th Annual Conference in Abuja on Wednesday. It recognizes the CBN’s reforms and work to stabilize Nigeria’s economy.

Director of the Monetary Policy Department, Dr. Victor Oboh, received the award on behalf of CBN Governor, Mr. Olayemi Cardoso.

‎The NES cited reforms by the CBN over the past three years. They include changes to the foreign exchange market, payment of outstanding forex obligations, and an end to Ways and Means financing to the federal government.

‎The bank also rolled out Payment System Vision 2028 and recapitalized banks to build a stronger financial system.

According to the NES, the reforms have helped reduce inflation, boost foreign reserves, and stabilize the naira. The gap between official and black market exchange rates has fallen to less than 2 percent. Remittances and investor confidence have also improved.

‎Governor Cardoso said the award validates the CBN’s push for macroeconomic stability.

‎“This award is a testament to the Central Bank’s pursuit of excellence and commitment to national development,” Cardoso said.

He added that the CBN remains focused on a stronger financial system and sustainable economic growth.

The NES award comes weeks after the CBN was named Global Central Bank of the Year.