• Home Page
• CBN & Community
• Currency Mgmt.
• Data & Statistics
• Dev. Finance
• Intl. Operations
• Monetary Policy
• Payment System
• Publications
• Supervision

• Communities
• Supplier's Reg.
• FSS 2020
• Africa Fin. Corp.
• Discussion Forum
• Other Regulators
• Banknet Blogger
• Tools
• Advanced Search
• Subscription

Subscribe Unsubscribe

About CBN

CBN Departments

1. Corporate Secretariat Department
2. Governors' Office
3. Internal Audit Department
4. Strategy and Performance Department.

Under this directorate, Corporate Secretariat handles legal issues as it affects the Bank and also acts as liaison between the Board of Directors. While Internal Audit ensures that all transactions in the Bank are in conformity with the established procedures. Strategy and Performance on the other hand is responsible for process review, design and improvement.

Departments under this directorate are:-

1. Corporate Secretariat
   The Corporate Secretariat is a product of the Bank's Management decision, in restructuring and repositioning the Bank in 2004, to merge the Secretary's and Legal Services Departments. The Department is divided into two Divisions; namely Board Affairs and Legal Services Divisions. Each Division has three offices. Hitherto the Legal Services Department was under the Corporate Services Directorate while the Secretary's Department reports to the Governor. With the merger, the Department is now under the Governor's supervision.

   The Vision of the new Department is "To ensure the provision of world-class legal and secretarial services for the Bank" and the Mission statement is "To provide an enabling environment for the Bank in making sound decisions, managing relationships and implementing policy"

   The Department has three principal mandates:

   • To provide legal and secretarial services to the Bank and its stakeholders;
   • To provide safe custodial services for the common seal, title documents, agreements, contracts and other important legal documents of the Bank; and
   • To manage information and advise on the Bank's relationship with financial institutions, government agencies and other stakeholders.

   The core functions of the Department are:

   • Administration of the Board and Management Meetings;
   • Provision of legal services on commercial and property law issues;
   • Manage and provide legal services on litigation/ADR involving the Bank;
   • Monitoring of Parastatals & compliance with Board/Management decisions;
   • Research and Development on contemporary legal issues;
   • Provide Board Support services;
   • Gazetting of the Bank's documents;
   • Provide legal support services on Economic/Financial crimes & International law issues; and
   • Custodial services of Bank's common seal, title documents and other legal instruments.

   

   ---

2. Strategy & Performance Improvement
   The Bank's effort to achieve an optimal result from the re-engineering and re-structuring process gave rise to the creation of a Corporate Strategy Department. The purpose of creating the Department being to develop the Bank's strategies and plans, which would help the Bank "stay on course" as well as evolve and implement strategies that would improve the Bank's overall performance. Functions of the department Sets and develops the corporate and departmental strategies and plans. Monitors the implementation of Corporate and Departmental plans and provides advice on appropriate corrective measures. Advises on nomenclature and Limits of Authority. Carries out a periodic evaluation of all facets of the Bank's business. Co-ordinates all re-structuring processes in collaboration with Performance Improvement Department. Provides direction and guidance to Price Intelligence studies. Monitors market trends and processes in order to aid management on prices of all items. Oversees the development and maintenance of information storage and retrieval system in the Bank.

   The mandate of the department are:-

   • Facilitate the implementation of Corporate and Business Unit Strategic Plans
   • Support the Performance Management System
   • Maintain the Quality Management framework for effective Policies, Procedures and Standards.
   • Manage continuous Business Process Improvement
   • Promote internal and external Strategic Alliances
   • Maintain a corporate Knowledge Management framework
   • Ensure Business Communication and Change Management framework

    

   

   ---

3. Internal Audit
   This Internal Audit Department strives to ensure that the Bank is fraud - free with with excellent control systems.

   The departments mandate are as follows:-

   • It evaluates the adequacy and effectiveness of the bank's internal control systems, risk management and governance processes and ensures compliance with procedures and policies with a view to achieving cost efficiency.

   • It also offers advisory and consulting services to Management.

   

   ---

4. Governor Office
   The Governor's Office is unique in its structure and quite different from the other Departments in the Bank. Unlike other departments that have Directors as Heads, Governor's Office has the Special Adviser to the Governor as the Head.

   The present set-up came into existence in November 2005. Governor's Office as it is currently called, is made up of Special Adviser Governor's Office, Liaison Office, Administrators Office (which is found in all departments) Special Duties Unit, Corporate Affairs Division and Security Services Division.

   Before the present set-up, it was called Office of the Governors' Department and comprised of Governors Office, Corporate Affairs Office, Admin Office, Lagos Office and Economic Policy Division. As at that time, Security Services was a Department, but reduced to a Division when it was brought under the former General Services Department in 2002. The Security Services Division is currently under Governor's Office.

   Their mandates are as follows:

   • To provide efficient and effective logistic support for the Governors
   • To provide efficient and effective technical support for the Governors: Speech and Paper writing, Document vetting, Economic information maintenance and report review.
   • To effectively project a positive image for the Bank
   • To be proactive and innovative in providing effective communication within the Bank and with the Bank's stakeholders
   • Managing day to day issues with the media
   • Production of the Bank's staff magazine/newsletter and Bullion
   • To effectively provide protocol services only in relations to seeing off / receiving the Governors and their visitors, Event Management and Front Office.
   • To protect the lives and property of the Bank

   

   ---

   See departments under other directorates:

   • Economic Policy Directorate
   • Financial Services Surveillance Directorate
   • Operations Directorate
   • 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 above, If you have received any form of correspondence naming a CBN department that is not on this list please see our 419 disclaimer.