Nigeria Requests $10.5 Million Loan from World Bank to Boost CBN's Technological Capacity

Nigeria Requests $10.5 Million Loan from World Bank to Boost CBN's Technological Capacity

Nigeria has submitted a request for a $10.5 million loan from the World Bank aimed at bolstering the technical capabilities of the Central Bank of Nigeria (CBN) and enhancing the nation's payment infrastructure.

As outlined on the World Bank's website, the proposed project, known as the CBN Technical Assistance Facility, will incorporate advanced technologies and data science into the bank's supervisory functions. 

This initiative is designed to address both ongoing and emerging issues in Nigeria's financial sector while upgrading the systems for remittance payments