The World Bank has reduced the size of a proposed grant to the Central Bank of Nigeria (CBN) from $10.50 million to $6.80 million, with board consideration for the project now scheduled for March 27, 2026.
Updated project information reviewed by The funding, which remains a grant rather than a loan, is earmarked for the CBN Technical Assistance Facility. The project is designed to strengthen the apex bank’s technology-enabled and data-driven supervision of the banking sector, while also improving oversight of domestic payment and remittance systems.
Information published on the World Bank’s website indicates that the project has reached the decision meeting stage, the final internal milestone before submission to the World Bank Group’s board for approval. This represents a significant progression from the earlier concept review stage, when the project was first reported in April 2025.
The approval date is now listed as March 27, 2026, marking a shift from the earlier June 12, 2025 timeline associated with the initial $10.50 million grant proposal. Despite the reduction in size, the project remains focused on enhancing supervisory capacity and financial system oversight in Nigeria.
Under the revised structure, the $6.80 million commitment will be financed entirely through the Finance for Development Multi-Donor Trust Fund. There will be no involvement of the International Development Association (IDA) or the International Bank for Reconstruction and Development (IBRD), confirming that the project will not add to Nigeria’s external debt burden.
