CBN Moves State and Local Government Fiscal Data Online
By Patience Ikpeme
The Central Bank of Nigeria (CBN) is replacing the paper-based way of collecting financial records from state and local governments with a digital system. The aim is to give the country faster and more dependable figures for planning and policy.
The Statistics Department is carrying out the change in all 36 states, the Federal Capital Territory (FCT) and the 774 local government areas. Until now, states and councils reported their income and spending mostly by hand, a process that often led to delays and errors.
The Director of the Statistics Department, Dr Usman Moses Okpanachi, spoke at a meeting of stakeholders in Abeokuta, Ogun State. He said the project would strengthen the link between what government offices and councils record every day and the decisions made from those records.
Dr Okpanachi explained why the figures matter. According to him, good fiscal statistics are “critical to sound economic management.” They show how much governments earn, how they spend, how much money they need to borrow and what pressures they face. They also show how government activity affects spending power in the economy, the amount of money in circulation, borrowing costs and prices.
He said the need for quality data has grown because the CBN now bases its decisions on evidence and is moving towards a clearer inflation-targeting approach. The current survey is carried out manually twice a year and has suffered from late submissions, transport difficulties, weak checking and slow processing.
The digital system is meant to fix these problems. It will standardise how information is entered, make checking easier, simplify submission and allow errors to be traced and corrected. It should also make it possible for states and councils to report every quarter instead of every six months.
Dr Okpanachi stressed that technology cannot do the whole job. In his words, it will “complement, rather than replace” good record-keeping and sound professional judgement. He urged states and councils to build their work on “timeliness, integrity and continuity.” That means submitting returns promptly, checking and reconciling figures, and naming officers who will handle the work so that it continues when staff change.
He said success would be judged by returns that are more complete and consistent, faster submissions and better information for decision-makers. He also promised continued technical and operational support from the CBN through its branches and the Statistics Department.
The nationwide engagement began on October 26, 2026. The remaining states are to be covered by December 4, and the FCT is scheduled for December 9 and 10. At the sessions, fiscal officers learn to use the digital questionnaire, understand the checking rules and practise submitting and correcting returns.
As of November 6, 2026, 16 states and their local governments had been covered. Attendance reached 100 per cent in almost all of them, which showed strong support from the governments.
After the training, the officers are expected to pass on what they learned within their offices and start sending returns through the digital platform. The Statistics Department will then compile the results into a national report.
The project is part of the CBN’s wider effort to improve its data systems. It is expected to help states and councils with planning, budgeting and reviewing their programmes, while giving policymakers more timely and reliable information.
