Yes, it's technically correct, though I get tired of hearing this brought up all the time, as if it's some sort of weird conspiracy theory to make it sound like there's a "Nobel Prize" when there isn't one.
There is the matter that Nobel, nor his family, even those alive today, had any intention of giving an award to economists. The award is given in the memory of Alfred Nobel, which is nice, but taken to the extreme and you get David Miscavage giving Tom Cruise the "Albert Einstein Humanitarian Anti-Psychology Award." It's a shameless appropriation of the name Nobel simply to promote the award.
Alfred Nobel created his foundation as a humanitarian enterprise, mainly to atone for his invention of dynamite. He wanted to promote brotherhood between nations and the pursuit of knowledge. The Swedish National Bank created the Economics award because they wanted to promote economic science.