As Mr. Yemi Cardoso marks his first anniversary as the Governor of the Central Bank of Nigeria (CBN), a key question looms large: has Cardoso’s tenure so far been a success, or has it merely scratched the surface of Nigeria’s deep-rooted economic challenges? From the outset, Cardoso faced an uphill battle. Rising inflation, a rapidly depreciating currency, a $6bn backlog of unfulfilled commitments, diversion of remittance flows and systemic banking sector challenges all awaited his intervention.