CBN splashes N507bn on ‘national security’ despite rising insecurity

The Central Bank of Nigeria has incurred N507 billion as intervention expenses on national security, armed forces, and state security among others between 2014 and 2022, a development that continues to increase the bank’s operating expenses.

Data sourced from the apex bank’s consolidated financial statements showed CBN spent N125.3 billion on intervention expenses, the highest since it started publishing annual reports.

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