CBN introduces digital fiscal reporting for states, LGAs
The Central Bank of Nigeria has launched a digital fiscal reporting initiative for states and LGAs to improve the accuracy and timeliness of financial data Read More: https://punchng.com/cbn-introduces-digital-fiscal-reporting-for-states-lgas/
The Central Bank of Nigeria (CBN) has launched a digital fiscal reporting system for all 36 states, the Federal Capital Territory and 774 local government areas. The initiative, overseen by the CBN's Statistics Department, aims to improve the accuracy, timeliness and consistency of government financial data. By replacing the manual Sub-National Fiscal Survey process, the digital system will standardize data entry, enhance validation, simplify submissions and enable better monitoring of fiscal transactions.
This will strengthen information flow from ministries, departments and agencies to local governments, supporting informed economic policymaking. Dr Usman Okpanachi, Director of the CBN Statistics Department, emphasized that reliable fiscal statistics are crucial for assessing government performance and guiding public-sector activities.
The digitalisation programme will enable more frequent and sustainable quarterly reporting, addressing challenges related to timeliness, logistics and data validation. The CBN's stakeholder engagement, which began on October 26, 2026, has covered 16 states and their local governments, with 100% attendance in most visited states.
Training sessions for fiscal officers will follow, leading to the consolidation of implementation outcomes into a national report.
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