Nigeria: CBN Technical Assistance (TA) Facility (WB-P509481)

Countries
  • Nigeria
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 19, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Federal Republic of Nigeria
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services, Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Grant Amount (USD)
$ 6.10 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 6.10 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Oct 10, 2026

Disclosed by Bank Apr 11, 2025

Contribute Information
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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank's website, the approved project aims to strengthen the CBN's technology-enabled and data-driven supervision and oversight across Nigeria's banking, non-banking, payments, and remittance ecosystems. The Facility will integrate advanced data and digital tools into regulatory and supervisory processes. Beyond technology upgrades, the TA Facility supports a strategic shift toward institutional and supervisory modernization and evidence-based decision-making. The operation is fully aligned with the forthcoming FY26-32 Country Partnership Framework, which prioritizes a sound, resilient, and deep financial sector for inclusive growth and jobs, and with Nigeria's National Development Plan 2026-2030 by institutionalizing data-driven policy, strengthening CBN-fiscal agency coordination, and expanding access to finance through more effective, risk-based oversight. Component 1: Supervision and Regulation Through Better Data and Technology. This component supports the adoption of: (i) Supervisory Technology (SupTech): tailored technology-based solutions that strengthen supervisory processes and risk based oversight and (ii) Digital Rulebook: a structured, technology driven solution that enhances clarity, consistency, and accessibility of regulatory framework for supervisors, financial institutions and other stakeholders. This transition will enable the CBN to become a regional leader and global fast follower in tech-enabled financial supervision. This is particularly critical given the increasing complexity of Nigeria's financial landscape, characterized by the rapid evolution of financial services offered by institutions both within and beyond the CBN's regulatory perimeter, including FinTech's, digital lenders, and virtual asset platforms. Component 2: Remittance Systems and Foreign Exchange (FX) Flow MonitoringThis component supports the design and implementation of analytical tools and data systems to strengthen Nigeria's remittance ecosystem and improve the monitoring and measurement of foreign exchange (FX) flows. The aim is to deepen understanding of remittance flows, enhance the quality and granularity of FX data, and support evidence-based policy formulation and Balance of Payments (BoP) reporting. By supporting the design of digital-only remittance solutions, the component also seeks to provide insight on strategies to channel more remittance flows through formal systems.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environmental and Social Risk: M

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Total Project Cost: US$ 6.10 million

Commtiment Amount: US$ 6.10 million 


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Task Team Leader: Hadija Kamayo 

Title: Senior Financial Sector Specialist 

Email: hkamayo@worldbank.org 

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works