Nigerian Journal Sustainability Research

Publications

Vol. 4 No. 1 (2026): Building Resilience: Perspectives on Sustainability

Navigating the Future of Monetary Policy in Nigeria: Challenges, Opportunities, and the Impact of Artificial Intelligence and Financial Automation. With A Case Study of the Central Bank of Nigeria (CBN).

Submitted
January 30, 2026
Published
2026-02-08

Abstract

This study investigates the impact of Artificial Intelligence (AI) and Financial Automation on the monetary policy processes of the Central Bank of Nigeria (CBN), titled "Navigating the Future of Monetary Policy in Nigeria: Challenges, Opportunities, and the Impact of Artificial Intelligence and Financial Automation." The aim of the study is to explore how AI can improve decision-making at the CBN, particularly in enhancing data integrity, streamlining data receipt, and generating dispense error information, from 2020 to 2025. The study adopted a correlational design, utilizing primary data collected through structured questionnaires administered to 160 respondents from the CBN’s Statistics, Consumer Protection, and Research Departments. The theoretical framework included Public Choice Theory, Resource Dependency Theory (RDT), and Management and Role Theory, providing insights into how AI influences decision-making and governance structures within the CBN. The findings revealed statistically significant positive correlations between AI-driven factors and decision-making at the CBN, with AI enhancing the efficiency of dispense error information and improving data integrity. However, challenges such as infrastructure limitations and data quality issues were also identified. The study concluded that AI plays a vital role in improving the CBN’s operational efficiency but requires substantial investment in infrastructure and capacity-building to maximize its benefits. Therefore, the study recommended investing in digital infrastructure, promoting public-private partnerships, and ensuring continuous evaluation of AI’s impact on monetary policy.

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