About CBN

Departmental Directors

Chibuzo A. Efobi
Director, Payments System Management - Since 11/24/2023

Chibuzo A. Efobi is a professional with diverse levels of work experience in local and international financial institutions before joining the CBN.

The scope of work experience, both within financial institutions and at the apex regulator for financial institutions, covers Change Management, Business & Quality Assurance, Project Management, IT Operations, Investment and Securities Services, Relationship Management, Credit, Treasury and Regulatory Policy formulation/implementation for Banks & Other Financial Institutions.

He has served as the Programme Manager for notable initiatives anchored by the CBN, including Repositioning the Nigeria Commodity Exchange (NCX), Global Standing Instruction (GSI), the Loan-to-Deposit Ratio (LDR) Policy, as well as the Redesigned Credit Risk Management System (CRMS).

He also played a key role in the development and launch of Nigeria’s Central Bank Digital Currency, the eNaira.

He was the Group Head, Policy and Regulation Division of the Financial Policy and Regulation Department before his appointment as Director of the Department in August, 2021. He is currently the Director, Payments System Management Department, a position he assumed on November 24, 2023.

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