BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Central Bank of Nigeria Central Bank of Nigeria The Central Bank of Nigeria (CBN) is the central bank of the Nigeria. It was came to full operations on 1959 and is based in Abuja. It holds reserves of foreign currency of Nigeria. In addition to currency management, the Bank also supervises a number of private banks in Negeria. Central Bank of Nigeria has the full mandate to conduct monetary policy whereas fiscal policy issues are the mandate of the Ministry of Finance.   The current legal framework within which the CBN operates is the CBN Act of 2007 which repealed the CBN Act of 1991 and all its amendments. The Act provides that the CBN shall be a fully autonomous body in the discharge of its functions under the Act and the Banks and Other Financial Institutions Act with the objective of promoting stability and continuity in economic management. In line with this, the Act widened the objects of the CBN to include ensuring monetary and price stability as well as rendering economic advice to the Federal Government.  The objectives of the CBN are as follows:     •  ensure monetary and price stability;   •  issue legal tender currency in Nigeria;   •  maintain external reserves to safeguard the international value of the legal tender currency;   •  promote a sound financial system in Nigeria; and   •  act as Banker and provide economic and financial advice to the Federal Government. In addition to its core functions, CBN has over the years performed some major developmental functions, focused on all the key sectors of the Nigerian economy (financial, agricultural and industrial sectors).    Central Bank of Nigeria HQ Address: Plot 33, Abubakar Tafawa Balewa Way Central Business District Cadastral Zone Abuja, Federal Capital Territory Nigeria Tel: +234 9 462 39701 Fax: +234 9 462 36012 Website: www.cenbank.org Swift Code: CBNINGLA Currency: Nigerian naira Banking Hours: Mon - Fri : 8.00am - 4.00pm   The Central Bank of Nigeria accepts that the credibility of its policy and actions is a prerequisite for the attainment of its goals and that such credibility can only be achieved and maintained through independent action, firmness of principle, resoluteness and fixed intent. List of banks governed by the Central Bank of Nigeria » Attijariwafa Bank » BMCI » Crédit du Maroc » Banque Populaire du Maroc » Société Générale Maroc » Crédit Immobilier et Hôtelier » BMCE Bank » Crédit Agricole du Maroc » Arab Bank Maroc » Bank Al Amal » Caisse Marocaine des Marches » Banco Immobiliario & Mercantil de Marruecos » Bex-Maroc » Caisserie Commerciale » Caisse Interprofessionnelle Marocaine de Retraites » Citibank Maghreb » Commerzbank » Caisse Mutualiste Interprofessionelle » Societe de Banque & de Credit » Raw-Mat Bank » Limar Bank Casa Union Marocaine de Banques » Union Marocaine de Banques » Societe Mithaq Al Maghreb » Union Bancaria Hispano Marroqui Uniban DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved