Central Bank of Nigeria
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Monetary Policy
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Monetary Policy Forum
In 2000, the CBN established the Monetary Policy Forum in order to create a channel for public enlightenment and cross fertilization of ideas between the monetary authorities and other stakeholders. The forum was created in recognition of the fact that monetary policy works best in an environment in which the views of the key stakeholders are taken into consideration in both its conception and implementation. This initiative is consistent with the general move towards greater transparency and openness in the conduct of monetary policy `by central banks worldwide. The Forum also serves as a medium for educating the public on the monetary policy decisions of the Bank, which is necessary for the sustenance of its autonomy and credibility.
| Facts : 1/7/1959 |
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| 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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