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CBN Departments

Financial System Stability
There are four departments under this directorate:
  1. Banking Supervision Department
  2. Development Finance Department
  3. Financial Policy and Regulation
  4. Other financial Institutions Supervision Department

Departments under this directorate are:-

  1. Banking Supervision

    The Department has the following mandates

    • Conduct of off-site surveillance and on-site examination of Deposit Money Banks, Specialized Institutions Credit Registry Bureaux, and related institutions.
    • Development of standards for examinations and consolidated supervision

  2. Development Finance

    The Department has the following mandate:

    • Development and implementation of various policies, programmes and schemes aimed at the effective, efficient and sustainable delivery of financial services to special sectors of the economy

  3. Financial Policy and Regulation

    The department has the following mandates:

    • Development and implementation of policies & regulations aimed at ensuring financial system stability
    • Licensing & approvals for banks and other financial institutions

  4. Other Financial Institutions Supervision

    The Department has the following mandate:

    • Conduct of off-site surveillance and on-site examination of Microfinance Banks, Bureaux-de-Change, Development Finance Institutions, Primary Mortgage Institutions and Finance Companies

    See departments under other directorates:ul>

  5. Economic Policy Directorate
  6. Governors Office
  7. Operations Directorate
  8. Corporate Services Directorate

Please Note that the CBN does not have any other departments outside the country or at any other location besides those listed on this website, If you have received any form of correspondence naming a CBN department that is not on this list please see our 419 disclaimer.

Facts : 2/1/1933
Indigenous Banking in Nigeria:The story of indegenous banking in Nigeria began with the establishment of the National Bank of Nigeria Limited in February 1933. This was followed by the Agbonmagbe Bank Limited in 1945, now Wema Bank. Afterwards, the African Development Bank Limited, now known as African Continental Bank Plc., was constited in 1948.
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