CBN Moves to Digitise Financial Reporting Across 774 Local Governments, 36 States
CBN Moves to Digitise Financial Reporting Across 774 Local Governments, 36 States
The Central Bank of Nigeria (CBN) has introduced a digital reporting system for government financial data across the country’s 36 states, the Federal Capital Territory and 774 local government areas to improve the accuracy and timely collection of fiscal information.
The initiative, implemented through the CBN’s Statistics Department, is designed to replace the largely manual Sub-National Fiscal Survey and support more frequent reporting of government revenue, expenditure and financing activities.
Speaking at a Sub-National Fiscal Statistics Stakeholders’ Engagement in Abeokuta, Ogun State, the Director of the CBN’s Statistics Department, Dr Usman Moses Okpanachi, said the digitalisation would strengthen fiscal data collection and provide more reliable information for economic planning and policymaking.
He explained that the previous reporting process, which relied largely on manual submissions and was conducted twice yearly, faced challenges involving delays, logistics, data validation and processing.
According to the CBN, the new platform will standardise data entry, simplify submissions, improve validation and allow better monitoring and tracking of corrections. It is also expected to support a transition to quarterly fiscal reporting.
The initiative is expected to help policymakers assess revenue performance, expenditure patterns, government financing requirements and emerging fiscal pressures, while providing better information for monetary and fiscal policy decisions.
The CBN disclosed that its nationwide stakeholder engagement began on October 26, 2026. As of November 6, the exercise had covered 16 states and their local governments, with the remaining states expected to be covered by December 4. Training sessions for the FCT are scheduled for December 9 and 10.
The apex bank also urged state and local government authorities to ensure accurate record-keeping, timely submission of financial returns and the appointment of designated officers to coordinate the reporting process.
The CBN said the initiative forms part of its broader data transformation agenda, aimed at strengthening fiscal information for government planning, budgeting and economic policy evaluation.
The success of the programme will depend on the commitment of participating governments to provide accurate and consistent financial records as the digital reporting system is implemented nationwide.
