CBN to begin automation of intervention funds

The Central Bank of Nigeria (CBN) on Thursday signalled plans to commence automation of the intervention funds process.

This follows its request for proposal for the automation of intervention funds processes as published on its website.

The Bank, in fulfilling its statutory objective of a sound and stable economy, provides intervention funds to different sectors of the economy. The management of these intervention funds generally follow a similar process with slight variations based on the conditions/criteria of the intervention/investment.

The Development Finance Department (DFD) of the CBN is responsible for managing the Bank’s Intervention funds and desires to harmonise and automate all intervention funds processes thereby eliminating the cumbersome process of operating several silo processes.

Consequently, the regulator invites sealed bids from bidders for the development, implementation, and automation of the intervention funds process for the CBN. This Request for Proposal (RFP) is being extended to a set of eligible and competent vendors.

“Proposals from single vendors or from multiple vendors working together as a team would be considered. The ideal vendor(s) will have certified knowledge and verifiable capacity and experience in the software industry. Experience in the public or banking sector is preferred, but not mandatory,” the CBN stated.

HOPE MOSES-ASHIKE

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.