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CBN Departments

The following departments are under this directorate:
  1. Corporate Secretariat Department
  2. Development Finance Department
  3. Governors' Department
  4. Internal Audit Department
  5. Risk Management Department
  6. Strategy Management Department

Departments under this directorate are:-

  1. Corporate Secretariat

    The Department has the following mandates:

    • Provision of support to the Board, monitoring of the decisions of the Board and assurance of the highest level of oversight for internal and public complaints
    • Managing, from creation to archival, all CBN documents
    • Provision of custodial services

  2. Development Finance

    The Department has the following mandate:

    • Development and implementation of various policies, programmes and schemes aimed at the effective, efficient and sustainable delivery of financial services to special sectors of the economy

  3. Governors'

    The Department has the following mandates:

    • Provision of support services to the Governors and Special Advisers
    • Management of communication, public relations and related events
    • Monitoring of all ethical issues and reporting to the Ethics Committee

  4. Internal Audit

    The Department has the following mandates:-

    • Safeguarding assets
    • Managing compliance with policies and procedures
    • Monitoring the efficiency and effectiveness of operations
    • Assessing accuracy of financial reporting
    • Preventing fraud

  5. Risk Management
  6. The Department has the following mandates:

    • Development of frameworks for identifying, managing and controlling the risks that could impede the fulfillment of the Bank�s mandate
    • Promotion of strong corporate governance, risk culture and risk expertise across the Bank and Sector

  7. Strategy Management

    The Department has the following mandate:-

    • Oversight of the Bank�s overall strategic planning & performance management, business process management, enterprise programme management and special initiatives

  8. See departments under other directorates:

    Please Note that the CBN does not have any other departments outside the country or at any other location besides those listed above, 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.
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