The Central Bank of Nigeria (CBN), established in 1958, stands as the nation's apex financial institution, playing a pivotal role in shaping monetary policy, ensuring financial stability, and fostering economic development.

As the primary regulator of the Nigerian financial system, the CBN's mandates include maintaining price stability, supporting employment generation, and promoting a sound and efficient financial system.

One of the central functions of the CBN is the formulation and implementation of monetary policy. Through mechanisms such as interest rate adjustments, reserve requirements, and open market operations, the CBN seeks to achieve price stability, control inflation, and create an environment conducive to sustainable economic growth.

The CBN serves as the regulatory authority overseeing the operations of banks and other financial institutions in Nigeria. By enforcing prudential guidelines, the central bank aims to ensure the soundness and stability of the financial system, safeguarding the interests of depositors and investors.

As the sole issuer of the national currency, the CBN is responsible for the issuance, distribution, and maintenance of the integrity of the Nigerian Naira. The central bank plays a crucial role in managing the money supply to achieve economic objectives while preventing excessive inflation or deflation.

Recognizing the importance of broadening access to financial services, the CBN has actively promoted financial inclusion initiatives. Programs such as the National Financial Inclusion Strategy aim to extend banking services to underserved populations, fostering economic participation and reducing poverty.

The CBN has embraced technological advancements to enhance efficiency and transparency within the financial sector. Initiatives such as the Cashless Policy and the development of digital payment systems contribute to creating a more robust and modern financial ecosystem.

Managing Nigeria's foreign exchange reserves and facilitating a stable exchange rate are crucial aspects of the CBN's responsibilities. The central bank employs various measures to ensure the stability of the Naira in the foreign exchange market, supporting international trade and economic resilience.

The CBN actively engages in development finance interventions to catalyze economic growth. Through targeted programs and schemes, such as the Anchor Borrowers' Program and the Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS), the central bank supports key sectors of the economy.

The CBN also collaborates with other regulatory bodies, financial institutions, and government agencies to foster a harmonized and coordinated approach to economic and financial management. This collaboration is essential for addressing multifaceted challenges and promoting the overall well-being of the Nigerian economy.