Central Bank of Nigeria
OUR VISION
"To be one of the most efficient and
effective world's central banks in promoting and sustaining economic development."
MISSION STATEMENT
"To be proactive in providing a stable framework for the economic development of Nigeria through the effective, efficient and transparent implementation of monetary and exchange rate policy and management of the financial sector."
STATEMENT OF CBN MANDATE
The mandate of the Central Bank of Nigeria (CBN) is derived from the Act that sets it up. The initial one was the 1958 Act of Parliament which was severally amended before it was jettisoned and replaced by the CENTRAL BANK OF NIGERIA Decree No. 24 of 1991 (as amended in 1993, 1997, 1998 and 1999). The decree, (now an Act of the National Assembly of the Federal Republic of Nigeria) makes provision for the continuance of the CBN with a Board of Directors consisting of the Governor, four deputy governors and five non- executive directors, and charges the Bank with the overall control and administration of the monetary and financial sector policies of the Federal Government, both within and outside Nigeria.
The statutory mandates of the CBN as in the Act are as follows:
To issue legal tender currency
To maintain external reserves
To safeguard the international value of the legal tender currency
To promote monetary stability and a sound financial system in Nigeria
To act as banker and financial adviser to the Federal Government.
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