The Central Bank of Nigeria (CBN) is the primary monetary authority in Nigeria. It is tasked with maintaining the country’s external reserves, promoting monetary stability, ensuring a sound financial environment, and acting as a banker of last resort and financial adviser to the federal government.
Given its pivotal role, working at the CBN is highly coveted, especially among graduates. This article provides essential information for those interested in joining the CBN workforce.
Objectives of the CBN
The CBN operates under mandates set by the 1958 Act of Parliament, with amendments in 1991, 1993, 1997, 1998, 1999, and 2007. According to the CBN Act of 2007, the bank's core responsibilities include:
- Maintaining Price and Monetary Stability: Ensuring stable prices and a sound currency.
- Issuing Legal Tender: Providing an adequate supply of legal tender in Nigeria.
- Managing External Reserves: Holding foreign reserves to stabilize the national currency.
- Ensuring Financial System Stability: Overseeing the efficient functioning of Nigeria’s financial system.
- Advising the Federal Government: Offering guidance on monetary and economic policies.
The CBN also enforces the Banks and Other Financial Institutions Act (BOFIA) 2020 to ensure robust banking practices and a resilient financial system.
CBN's Role in Economic Development
In addition to its primary functions, the CBN contributes to Nigeria's economic development across various sectors, including finance, agriculture, and industry, through its diverse departments.
Organogram of CBN
Organizational Structure
Past Governors of the CBN
| S/N | Name | Served From | Served Until |
|---|---|---|---|
| 1 | (Late) Roy Pentelow Fenton | 7/24/1958 | 7/24/1963 |
| 2 | (Late) Alhaji Aliyu Mai-Bornu | 7/25/1963 | 6/22/1967 |
| 3 | (Late) Dr. Clement Nyong Isong | 8/15/1967 | 9/22/1975 |
| 4 | (Late) Mallam Adamu Ciroma | 9/24/1975 | 6/28/1977 |
| 5 | (Late) Mr. O. O. Vincent | 6/28/1977 | 6/28/1982 |
| 6 | (Late) Alhaji Abdulkadir Ahmed | 6/28/1982 | 9/30/1993 |
| 7 | Dr. Paul A. Ogwuma, OFR | 10/1/1993 | 5/29/1999 |
| 8 | Chief (Dr.) J. O. Sanusi, CON | 5/29/1999 | 5/29/2004 |
| 9 | Prof. Chukwuma C. Soludo, CFR | 5/29/2004 | 5/29/2009 |
| 10 | Mallam Sanusi Lamido Sanusi (CON) | 6/3/2009 | 6/2/2014 |
| 11 | Mr. Godwin Emefiele (CFR) | 6/3/2014 | 9/25/2023 |
CBN Recruitment 2024
As of now, the CBN recruitment form for 2024 is not available. Prospective candidates should regularly check the official CBN website and verified media outlets for updates on the next recruitment exercise.
Requirements for CBN Recruitment
To apply for the CBN recruitment, candidates must meet the following criteria:
- Be a Nigerian citizen.
- Hold a degree from an accredited tertiary institution in Nigeria.
- Possess an NYSC discharge or exemption certificate.
- Meet the required age criteria.
How to Apply for CBN Recruitment
Interested applicants should follow these steps to apply for positions at the CBN:
- Visit the CBN career page at www.cbn.gov.ng/recruitment.asp.
- Read the instructions provided on the page.
- Select the desired position.
- Create an account on the portal.
- Complete the application form thoroughly before submission.
By staying informed, you can ensure you don't miss any critical updates about the CBN recruitment and other important activities.
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