The Central Bank of Nigeria was established by the CBN Act of 1958 and commenced operations on July 1, 1959. The objects of the CBN are as follows: ensure monetary and price stability, issue legal tender currency in Nigeria, maintain external reserves to safeguard the international value of the legal tender currency, promote a sound financial system in Nigeria, and provide economic and financial advice to the Federal Government.
ID: 313. Updated: 20.03.2021
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