Central Bank of Nigeria Headquarters Description
About Central Bank of NigeriaThe Central Bank of Nigeria is the nation's foremost and apex financial institution. In its latest Act of 2007, the CBN is charged by the federal government with overall control and administration of all monetary and financial sector policies. Its objectives also include; Issuing a legal tender for the country, ensuring monetary and price stability, maintaining external reserves to safeguard the currency's international value, act as Banker and provide economic and financial advice to the Federal Government. The Bank has its Headquarters in Abuja and branches in every state capital of the federation.
History of Central Bank of NigeriaThe Central Bank of Nigeria (CBN) was established by the CBN Act of 1958 which has been modified in 1991, 1993,1997,1998,1999 and 2007. It commenced operations on July 1, 1959 and issued its first treasury bills in April 1960. In its early days, the CBN mainly acted as regulators of the banking sector, monitored balance of payments according to the demands of the federal government and adjust monetary policy along the demands of the federal budget. The Central Bank has had 12 Governors since Nigerian Independence and is probably the most popular government body in Nigeria.
SafetyAn office with watertight security. Visitors here have to be cleared to get in. No security threat.
Best Time to Visit Central Bank of NigeriaCBN operates between 8am and 5pm on weekdays. This is the best period to visit.
Most Common VisitorsThe CBN is visited by a wide range of people from government officers to bank representatives.
Weather at Central Bank of NigeriaCentral Bank of Nigeria is located in Abuja North-Central of Nigeria.Thus, it experiences three weather conditions every year. This includes a warm, humid rainy season and a blistering dry season. In between the two, there is a brief interlude of harmattan occasioned by the northeast trade wind, with the main feature of dust haze and dryness. Temperatures can drop to as low as 16 degrees during the harmattan period.The Central bank of Nigeria located in the capital city of Abuja is responsible for the effective, efficient and transparent implementation of monetary and exchange rate policy and management of the financial sector of the Federal Republic of Nigeria.