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CBN Departments

Governors
The following departments are under this directorate:
  1. Corporate Secretariat Department
  2. Development Finance Department
  3. Governors' Department
  4. Internal Audit Department
  5. Risk Management Department
  6. Strategy Management Department

Departments under this directorate are:-


  1. Corporate Secretariat

    The Department has the following mandates:

    • Provision of support to the Board, monitoring of the decisions of the Board and assurance of the highest level of oversight for internal and public complaints
    • Managing, from creation to archival, all CBN documents
    • Provision of custodial services

  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. Governors'

    The Department has the following mandates:

    • Provision of support services to the Governors and Special Advisers
    • Management of communication, public relations and related events
    • Monitoring of all ethical issues and reporting to the Ethics Committee


  4. Internal Audit

    The Department has the following mandates:-

    • Safeguarding assets
    • Managing compliance with policies and procedures
    • Monitoring the efficiency and effectiveness of operations
    • Assessing accuracy of financial reporting
    • Preventing fraud


  5. Risk Management
  6. The Department has the following mandates:

    • Development of frameworks for identifying, managing and controlling the risks that could impede the fulfillment of the Bank�s mandate
    • Promotion of strong corporate governance, risk culture and risk expertise across the Bank and Sector

  7. Strategy Management

    The Department has the following mandate:-

    • Oversight of the Bank�s overall strategic planning & performance management, business process management, enterprise programme management and special initiatives


  8. See departments under other directorates:

    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.

Facts : 1/7/1959
Evolution of Departments:At inception, the organisational structure of the CBN was understandably simple consisting of two departments, namely, the General Manager's and the Secretary's Departments, with the appropriate division of labour as then percieved. The General Manager's Department was responsible for all the Department banking, currency issues, debt management and other operational functions of the bank while the Secretary's Department handled the administrative and staff matters, carried out some research into the economic and financial conditions, and collected and analysed relevant statistics for policy formulation.
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