Nigeria’s CBN Launches Whistleblowing Website to Enhance Transparency in The Country’s Financial System

Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has announced the launch of a whistleblowing platform as part of its strategy to foster a transparent and credible operational framework across the nation’s financial system. The externally hosted platform, set to go live on January 1, 2025, represents a significant step in promoting accountability and ethical conduct.

In its December update, the CBN emphasized that the platform is designed to empower individuals to report all forms of misconduct without fear of intimidation or retaliation.

“In furtherance of management’s commitment to promoting an organization with high ethical standards, honesty, and integrity, the Central Bank of Nigeria is launching a new externally hosted platform to manage whistleblowing,” the statement read.

The platform will allow employees, vendors, consultants, executives, and other stakeholders to report incidents of personal and professional misconduct, unethical behavior, or legal violations. This initiative reflects CBN’s dedication to maintaining high ethical standards within the organization and the broader Nigerian financial system.

“All reports made via this channel will be investigated promptly and treated with utmost confidentiality and professionalism, ensuring that every concern is addressed while protecting the whistleblower,” the bank stated.

The CBN reiterated its commitment to ensuring that every report submitted will undergo thorough investigation with the highest level of integrity and transparency. The initiative is aimed at creating a secure and supportive environment for whistleblowers, safeguarding their rights and identities throughout the process.

Further details about the platform’s operation will be shared in due course. The CBN assured whistleblowers of its unwavering commitment to handling all submissions with care and providing the necessary support to protect their confidentiality.

Scheduled to launch at the start of 2025, the platform underscores the CBN’s foresight in upholding ethical values, promoting accountability, and safeguarding the integrity of Nigeria’s financial sector. It is a bold move toward fostering a culture of operational excellence and trust within the system.