The Central Bank of Nigeria (CBN) plays a crucial role in shaping the Nigerian economy through its monetary policy framework. Established under Section 2 of the CBN Act of 2007, the CBN is mandated to maintain monetary and price stability while safeguarding the financial system and the value of the naira. Over the years, the CBN has introduced various monetary policies aimed at boosting economic growth and fostering a conducive investment environment.
In this Q&A Guide, we will be answering frequently asked questions on these monetary policy tools used by the CBN in Nigeria.