About Central Bank Of Nigeria

about Central bank of Nigeria

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Central Bank Of Nigeria

The Central Bank of Nigeria (external link) was established by the CBN Act in 1958 and commenced operations on july 1, 1959.

Governor : Godwin Emefiele.

Headquarters : Abuja, Nigeria.

Functions Of CBN

The main regulatory objectives of the bank is as stated in the CBN act of 1958 is to :
1] Issue legal tender.

2] Promote monetary stability and a sound financial environment.

3] Maintain the external reserves of the country.

4] Act as a banker last resort.

5] Financial adviser to the federal government.top↑

Governors Of The Central Bank
Since Independence

ROY PENTELOW FENTON : The first CBN Governor, from july 24, 1958 to july 24 1963.

ALIYU MAI-BORNU :The second CBN Governor who was the Deputy Governor of CBN before becoming The Governor of CBN, from july 25, 1963 to june 22, 1967.

CLEMENT NYONG ISONG : The third CBN Governor who was The Advisor International Monetary Fund of CBN before becoming the Governor of CBN, from August 15, 1967 to September 22, 1975.

ADAMU CIROMA : The fourth CBN Governor from September 24, 1975 to june 28 1977.top↑

OLA VINCENT : The fifth CBN Governor who was The Deputy Governor of CBN before becoming The Governor of CBN, from june 28, 1977 to june 28, 1982.

ABDULKABIR AHMED : The sixth CBN Governor who was The Deputy Governor of CBN before becoming The Governor of CBN, from june 28, 1982 to September 30 1993.

PAUL AGBAI OGWUMA : The seventh CBN Governor who was The CEO of Union Bank of Nigeria before becoming The Governor of CBN, from October 1, 1993 to May 29 1999.top↑

JOSEPH OLADELE SANUSI : The eighth CBN Governor who was The CEO of First Bank of Nigeria before becoming The Governor of CBN, from May 29, 1999 to May 29 2004.

CHUKWUMA SOLUDO : The ninth CBN Governor who was The CEO of National Planning Commission before becoming The Governor of CBN, from May 29, 2004 to May 29, 2009.

SANUSI LAMIDO SANUSI : The tenth CBN Governor who was The CEO of First Bank of Nigeria before becoming The Governor of CBN, from june 3, 2009 to february 20, 2014.top↑

GODWIN EMEFIELE : The current Governor of CBN who was The CEO of Zenith Bank PLC before becoming The Governor of CBN, from april 20, 2014 till date.

International Organisation That Nigeria Belongs

1] UNITED NATION ORGANIZATION [UNO]

2] AFRICAN UNION [AU]

3] NEW PARTNERSHIP FOR AFRICAN DEVELOPMENT

4] ECONOMIC COMMUNITY OF WEST AFRICA STATES [ECOWAS]

5] ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES [OPEC]

6] GROUP 77 [G77]

7] COMMON WEALTH OF NATIONS [CON].top↑

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Current Affairs : Federal republic of Nigeria

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