Central Bank of Nigeria

The Central Bank of Nigeria (CBN), founded in 1958, is the apex monetary authority regulating the Nigerian financial system. Its regulatory roles include issuing the national currency (naira), managing monetary and fiscal policy, and supervising financial institutions such as banks and microfinance entities. The CBN ensures financial stability by setting interest rates, maintaining foreign reserves, and providing oversight for payment systems. It enforces regulatory frameworks to prevent financial crimes, supports economic growth through developmental finance initiatives, and fosters trust in the banking system. The CBN also promotes consumer protection and transparency within the financial sector.

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