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Frequently Asked Questions

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Can the CBN give donations (cash or kind) to our school's departmental library?
  Yes. CBN can give donations but it depends on the availability of funds budgeted for such ventures and also the priority it enjoys amongst other demands from similar institutions.

Does CBN have any social responsibilities?
  Yes, they are: •Payment of yearly subventions to selected professional bodies •Donations to NGOs and other recognized social welfare bodies •Sponsorship of sports (Tennis, Football) etc •Scholarship to students on some selected special disciplines •Grants and infrastructural development to tertiary institutions •Sponsoring welfare project ( keep beggars off the streets )

How can my institution get financial aid from the Central Bank of Nigeria?
  Apply to the Governor stating clearly the assistance your institutions need, the purpose for the assistance of the project you are requesting for and the benefits derivable from the project to your community/institutions

How can we have audience with the Governor?
  Apply to the Governor through his Personal Assistant stating why you want his audience.

How many departments does the CBN have?
  The Central Bank of Nigeria is made up of seventeen departments.

If we are coming on excursion will the Central Bank of Nigeria be responsible for our transportation and accommodation?
  No. You are to arrange for your transpotation and accomodation

What are the current events CBN is invovled in?
  The events are as follows: Restructuring the Currency, Collaborative partnership with the the Federal Office of statistics generate accurate statistical data for the management of the economy, Clean the naira notes policy, Microfinance Scheme, and Restructuring the payment system.

What do I have to do to come on excursion to the Bank?
  Apply to the Head, Corporate Affairs Division stating your institution, department and your area of interest

What is the address of the Central Bank of Nigeria?
  The address of the Corporate Head Office is: Central Bank of Nigeria, Central Business District, P.M.B. 0187 Garki, Abuja Tel: 09-61639701, 61639702

When was the Central Bank of Nigeria established?
  The Central Bank of Nigeria was estabished in 1958.

Who are the past Governors of the Central Bank of Nigeria?
  The past CBN Governors are: Mr. R.P. Fenton, CMG 1958-1963 Alh. Mai Bornu 1963-1967 Dr.Clement Isong 1967- 1975 Mall. Adamu Ciroma 1975-1977 Mr. Ola Vincent 1977-1982 Alh. Abdukadir Ahmed 1982-1993 Dr. Paul Ogwuma 1993- 1999 Chief Joseph Sanusi 1999-2004

Why do so many people respond on issues on behalf of CBN and not only the Governor and the spokes person of the Bank?
  Heads of departments or authorized representatives of the departments may speak for their departments on issues that border specifically on their departments. The Head, Corporate Affairs is authorized to speak on behalf the Bank but in some very serious matters the Governor and any of his deputies may speak for the Bank.

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Facts : 1/1/1900
BOFIA:In 1991, the Bank s and Other Financial Institutions Act (BOFIA) formerly BOFI was promulgated to replace the CBN Act of 1958 and the Banking Decree of 1969 (including later amendments). The policy brought the non-bank financial intermediaries under the supervision of Central Bank of Nigeria.
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