The World Bank has reduced its planned financial support to the Central Bank of Nigeria (CBN) from $10.5 million to $6.8 million, according to updated project details.
The grant is intended for the CBN Technical Assistance Facility, aimed at enhancing the bank’s digital infrastructure, data analytics, and regulatory oversight of Nigeria’s banking and payment systems. The funding is fully provided through the Finance for Development Multi-Donor Trust Fund and will not increase Nigeria’s external debt, as it is a grant, not a loan.
Project documents show that the initiative has progressed from the concept review stage to the decision meeting stage, with World Bank board approval expected by March 27, 2026. The adjustment in funding reflects standard project refinements during preparation, ensuring resources align with implementation needs.
If approved, the grant will support the CBN in strengthening supervision, monitoring systemic risks, and advancing financial sector digitalisation, reinforcing its role in Nigeria’s rapidly evolving economy.
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