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CBN Departments

Financial System Stability
There are four departments under this directorate:
  1. Banking Supervision Department
  2. Consumer Protection Department
  3. Financial Policy and Regulation Department
  4. Other financial Institutions Supervision Department

Departments under this directorate are:-

  1. Banking Supervision

    The Department has the following mandates

    • Conduct of off-site surveillance and on-site examination of Deposit Money Banks, Specialized Institutions Credit Registry Bureaux, and related institutions.
    • Development of standards for examinations and consolidated supervision

  2. Consumer Protection

    The Department has the following mandate:

    • Develop and implement an effective consumer protection framework that promotes consumer confidence in the financial system

  3. Financial Policy and Regulation

    The department has the following mandates:

    • Development and implementation of policies & regulations aimed at ensuring financial system stability
    • Licensing & approvals for banks and other financial institutions

  4. Other Financial Institutions Supervision

    The Department has the following mandate:

    • Conduct of off-site surveillance and on-site examination of Microfinance Banks, Bureaux-de-Change, Development Finance Institutions, Primary Mortgage Institutions and Finance Companies

    See departments under other directorates:ul>

  5. Economic Policy Directorate
  6. Governors Office
  7. Operations Directorate
  8. Corporate Services Directorate

Please Note that the CBN does not have any other departments outside the country or at any other location besides those listed on this website, If you have received any form of correspondence naming a CBN department that is not on this list please see our 419 disclaimer.

Facts : 1/16/2006
The Cowry:The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.
See All: Facts | Events

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