The Central Bank of Nigeria (CBN) has made history by becoming the first central bank in the world to join the Project Management Institute’s Global Executive Council (GEC)—an exclusive network dedicated to advancing excellence in project management, governance, and strategic execution.
This prestigious recognition was officially conferred on January 29, 2025, at CBN Headquarters in Abuja, during a special event titled “Project Management in CBN.” The highlight of the occasion was the presentation of the GEC membership certificate, cementing CBN’s leadership in institutional project management.
The event also honored CBN’s project management teams, whose dedication has been instrumental in driving high-impact outcomes. By joining the GEC, CBN reinforces its position as a trailblazer in Africa’s financial sector, setting a benchmark for institutional excellence in project, program, and portfolio management.
CBN’s Journey to Project Management Maturity
CBN’s transformation in project management began in 2009 with the initial conception of its Enterprise Program Management Office (EPMO). In 2015, CBN engaged iCentra to assess, enhance, and establish a robust Enterprise Program Management Office (EPMO) framework. At the time, the Bank’s project management maturity was at Level 1—an initial stage characterized by ad-hoc processes and limited standardization.
Leveraging PMI’s Organizational Project Management Maturity Model (OPM3), iCentra partnered with CBN’s Strategy and Innovation Management Department and key stakeholders to develop capabilities, institutionalize best practices, and create a sustainable system for benefit realization and continuous improvement.
By 2023, an Enterprise Project, Program, and Portfolio Management Maturity Assessment conducted by iCentra confirmed CBN’s significant progress—advancing to Maturity Level 3. This achievement signifies that CBN has successfully standardized its project management processes, ensuring strategic alignment and measurable outcomes. It is a testament to iCentra’s decade-long partnership in fostering sustainable capacity development within the Bank.
A Testament to Collaboration & Commitment
Reflecting on this achievement, Mr. Taopheek Babayeju, CEO of iCentra, remarked:
“CBN’s journey from Level 1 to Level 3 is a story of partnership and perseverance. Their unwavering commitment to empowering teams and refining processes has accelerated this remarkable growth. We are proud to have played a role in supporting their professionals in building world-class project execution capabilities.”
Since 2015, iCentra has been a trusted partner, working alongside CBN to design and implement scalable enterprise project, program, and portfolio management systems while building institutional capacity for sustained excellence.
Build a High-Impact PMO with iCentra: From Enterprise PMO setup to Project, Program, and Portfolio Management excellence, iCentra’s PMO Solutions empower organizations to drive strategic execution, governance, and sustainable growth. Learn more here.
About iCentra
iCentra is a global technology and business solutions company committed to driving transformation and empowering organizations to achieve sustained operational excellence. With headquarters in Abuja, Nigeria, and offices in Texas, USA, and London, UK, iCentra serves clients worldwide, delivering innovative solutions that drive business success.
