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

Authors

• Polycarp M. Ishaku, Central Bank of NigeriaFollow

Keywords

Reforms, Central Bank of Nigeria, Monetary Policy

Abstract

his 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.

Author Bio

Polycarp Ishaku Mikloda, PhD, is Deputy Director overseeing the Special Duties Department at the Central Bank of Nigeria. He holds B.Tech., M.Sc. and Ph.D. degrees in Agricultural Economics. Before joining the Bank in 2004, he lectured in agricultural economics. He has served on strategic committees that supported major initiatives, including NIRSAL Plc. His professional credentials include Chartered Stockbroker, Certified Anti-Money Laundering Specialist and Project Management Professional. An alumnus of executive programmes in the United States, Israel and France, he is a Fellow of the Institute of Chartered Economists of Nigeria. His interests include financial analysis, strategy and business modelling

Publication Title

Bullion

Issue

3

Volume

50

First Page

6

Last Page

21

Recommended Citation

Ishaku, Polycarp M. (2026) "Central Bank of Nigeria (CBN) Global Award 2026: Strategic Reforms, Economic Stabilisation and Institutional Excellence under the Leadership of Governor Olayemi Cardoso," Bullion: Vol. 50: No. 3, Article 1.
DOI: https://doi.org/10.33429/0331-7919.1650
Available at: https://dc.cbn.gov.ng/bullion/vol50/iss3/1