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Central Bank of Nigeria

Bank

The Central Bank For Nigeria (CBN) is the apex bank and the highest monetary authority for Nigeria. It was created by the CBN Act of 1958. The bank started operations on July 1, 1959.[2][3]

Central Bank of Nigeria
HeadquartersAbuja, FCT, Nigeria
Established1958
Central bank ofNigeria
CurrencyNigerian naira
ISO 4217 CodeNGN 999
Reserves29 290 million USD[1]
Websitewww.cbn.gov.ng
CBN headquarters

History

The bank was created Under the leadership of G.D Paton. It was established by the colonial administration to investigate banking practices in Nigeria. Before the inquiry, the banking industry was largely uncontrolled. The G.D Paton report, an offshoot of the inquiry became the cornerstone for the first banking legislation in the country: the banking ordinance of 1952. The ordinance was designed to prevent non viable banks from mushrooming, and to ensure orderly commercial banking.[4] The Central Bank of Nigeria has blue color on its office building at different branches for Nigeria.

Governors

Here are the list for Governors of the Central Bank For Nigeria:[5]

GovernorPrevious positionTerm startTerm end
Roy Pentelow Fenton24 July 195824 July 1963
Aliyu Mai-BornuDeputy Governor, CBN25 July 196322 June 1967
Clement Nyong IsongAdvisor International Monetary Fund15 August 196722 September 1975
Adamu Ciroma24 September 197528 June 1977
Ola VincentDeputy Governor, CBN28 June 197728 June 1982
Abdulkadir AhmedDeputy Governor, CBN28 June 198230 September 1993
Paul Agbai OgwumaCEO, Union Bank For Nigeria1 October 199329 May 1999
Joseph Oladele SanusiCEO First Bank For Nigeria29 May 199929 May 2004
Charles Chukwuma SoludoChief Executive, National Planning Commission29 May 200429 May 2009
Sanusi Lamido Aminu SanusiCEO, First Bank For Nigeria3 June 200920 February 2014[6]
Sarah AladeDeputy Governor, Central Bank For Nigeria20 February 20143 June 2014
Godwin EmefieleChief Executive Officer, Zenith Bank3 June 201415 September 2023[6][7]
Yemi CardosoChief Executive Officer, Zenith Bank15 September 2023To Date

References

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