Cardoso named Africa’s top central banker for bold policy reset

Olayemi Cardoso, governor, Central Bank of Nigeria (CBN) has been named central bank governor of the year by African Banker magazine.

The award, presented at the 2025 African Banker Awards at a gala ceremony in Abidjan on Wednesday was in recognition of Cardoso’s sweeping reforms aimed at stabilising the naira, restoring investor confidence, and reasserting monetary policy credibility in Africa’s most populous economy.

During the event, African Banker magazine, praised Cardoso’s “bold and strategic” approach since assuming leadership of the Central Bank of Nigeria (CBN).

Read also: Nigeria’s reforms recognised as African Banker names Cardoso CBN governor of the year 

Under his tenure, the bank has moved aggressively to improve transparency in the foreign exchange market and recalibrate Nigeria’s macroeconomic direction after a prolonged period of volatility.

“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,” the organisers said in a statement.

The recognition comes as Nigeria pushes to reverse years of currency instability and dwindling investor trust, with Cardoso prioritising FX market reforms, inflation targeting, and improved central bank independence.

These efforts, the Awards committee noted, have laid “the groundwork for long-term macroeconomic resilience and and renewed investor confidence.”

Now in its 19th year, the African Banker Awards—hosted in partnership with the African Development Bank Group—bring together the continent’s financial leaders to spotlight excellence in banking and economic governance.