CBN Launches Digital Fiscal Data Collection Initiative

The Central Bank of Nigeria (CBN) has begun the digitalisation of fiscal data collection across the 36 states, the Federal Capital Territory (FCT), and 774 Local Government Areas (LGAs). This initiative aims to replace the manual reporting process to improve the quality, timeliness, accuracy, consistency, and precision of fiscal data for monetary, fiscal, and broader economic policy decisions.

Dr Usman Moses Okpanachi, Director of the Statistics Department, stated that reliable fiscal statistics are essential for sound economic management, enabling governments to assess revenue performance and expenditure patterns. The digitalisation initiative will standardise data entry, enhance validation, and support more frequent quarterly submissions.

The engagement commenced on October 26, 2026, and is expected to cover all states by December 4, with the FCT scheduled for December 9 and 10. Okpanachi urged states and local governments to ensure timely and accurate data submissions and appointed focal officers for continuity.