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Company Directory
Central Bank of Nigeria
Plot 33, Abubakar Tafawa Balewa Way
Central Business District, Cadastral Zone
Abuja, Federal Capital Territory
Garki Abuja.
Nigeria
[t] +234 9 462 39701-02
[W] http://www.cenbank.org


The CBN Act of 2007 of the Federal Republic of Nigeria charges the Bank with the overall control and administration of the monetary and financial sector policies of the Federal Government.


Hot, humid Nigeria reverts to cotton-paper banknotes
02 December, 2013
Nigeria is to revert to paper banknotes, the country's central bank has announced, in a policy switch bucking a growing trend around the world for tougher polymer-based currency. Nigeria, whose economy is predominantly cash-based, is looking to increase people's use of electronic payment methods such as credit cards, online trading and introducing cashpoint machines in a bid to try to reduce the amount individuals carry around at any one time.
 
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