In March 2010, the Central Bank of Nigeria launched its restructuring program tagged Project ACE with a view to repositioning and reinventing CBN for sustainable improvement of overall Accountability, Communication, Efficiency and Effectiveness.

The imperative for change was anchored on the CBN's recognition of the need to gear up its systems and organization for strategic and business effectiveness. To ensure efficiency and effectiveness, and also to enhance smooth communication among departments, a new management structure was also put in place to drive this change.

There are 29 (twenty-nine) departments in the Central Bank of Nigeria grouped in order of related performance and job descriptions (JDs) to facilitate smooth operations and management of those departments. The formation of these directorates also reduces the pressure that would have brought to bear on the Chief Executive (the Governor). Each directorate is headed by a Deputy Governor (DG).

The following are the 5 (five) approved directorates: