The central bank promotes/contributes to economic development through the following ways:
- Granting of long-term credit/loans to industries through its command over commercial banks.
- Development of money and capital market.
- Regulation of adequate money supply
- Tackling of balance of payment problems.
- Provision of money and structuring of interest rate.
- Creates special financial institution for promoting and facilitating economic development in different sectors such as Nigerian Industrial Development Bank.