History Facts

Events

LEGISLATION:
Mr Loynes, an adviser to the Bank of England, favoured the idea of establishing a Central Bank of Nigeria. His views and recommendations formed the basis for the draft legislation that established the CBN.

CBN Opens :
July 1, 1959. Central Bank of Nigeria came into full operations in Lagos with an initial capital of 17 million pounds (�17m). It was primarily involved in banking and currency operations.

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