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This paper discusses some problems that confront central banks in Africa in their roles as promoters and regulators of integrated financial system. A greater part of the problems that face central banks in Africa, however, originate from the structural characteristics of the respective economies, complemented at times by inappropriate policies. This study addresses such problems and it supports the analysis with data on Ghana, Ivory Coast, Kenya and Nigeria. Within the framework outlined and using the data analysis, it evaluates the actual performance of the central banks under review in light of the constraints within which they operate. A brief summary and some suggestions towards overcoming some of the problems outlined conclude the paper. (Prepared for presentation at the 14th Annual Conference of the Canadian Association of African Studies, St. Francis Xavier University, May 9-12, 1984)