Functions of the Central Bank of Nigeria - JSS3 Social studies Lesson Note

Monetary Policy: The CBN controls the money supply and interest rates to achieve price stability and support economic growth.

 

Currency Issuance: It has the sole authority to issue the national currency, ensuring the integrity and stability of the monetary system.

 

Banker to the Government: The CBN acts as the government's banker, managing its accounts, handling public debt, and facilitating financial transactions.

 

Supervision and Regulation: The central bank regulates and supervises other financial institutions, ensuring their stability and adherence to established guidelines.

 

Foreign Exchange Management: CBN manages the country's foreign exchange reserves, aiming to maintain a stable exchange rate and support international trade.