CBN Introduces Digital Fiscal Reporting System for 36 States, FCT and 774 LGAs
The Central Bank of Nigeria (CBN) has introduced a digital fiscal reporting system covering the 36 states, the Federal Capital Territory (FCT) and 774 local government areas to improve the accuracy, transparency and timely collection of government financial data.
The initiative, implemented through the CBN’s Statistics Department, is designed to replace the largely manual Sub-National Fiscal Survey process with a digital platform that will support more frequent reporting of government revenue, expenditure and financing activities.
The apex bank disclosed this in a statement on Tuesday following a Sub-National Fiscal Statistics Stakeholders’ Engagement held in Abeokuta, Ogun State.
Speaking at the engagement, the Director of the CBN Statistics Department, Dr Usman Okpanachi, said the digitalisation programme would address longstanding challenges associated with manual data collection, including delays, logistical difficulties, data validation and processing.
He explained that the new system would standardise data entry, simplify submissions, improve monitoring and enable traceable corrections, while supporting a transition from twice-yearly surveys to more sustainable quarterly reporting.
Okpanachi stressed that reliable fiscal statistics were essential for assessing government revenue, expenditure, borrowing requirements and emerging economic pressures.
He added that improved data would help policymakers better understand the impact of government spending and borrowing on liquidity, inflation, aggregate demand and economic stability.
The CBN urged state and local governments to ensure timely submission of financial records, proper data validation and the appointment of designated officers to coordinate reporting activities.
According to the bank, the nationwide stakeholder engagement began on October 26, 2026, and is expected to cover the remaining states by December 4, while FCT training sessions are scheduled for December 9 and 10.
As of November 6, the exercise had covered 16 states and their local governments, with attendance reaching 100 per cent in almost all the states visited.
The CBN said the initiative forms part of its broader data transformation agenda to strengthen fiscal planning, budgeting and economic p
