The CBN claimed a profit of N65.63 billion in 2022, more than double the amount it posted a year earlier (N31.04 billion), according to checks by Index from The Cable Newspaper, a Nigerian news publication.
In the midst of an ongoing inquiry into its activities, the Central Bank of Nigeria (CBN) on Thursday issued its audited financial accounts for 2016–2022. The apex bank stated that its board had approved the financial statements of the previous seven years, which were uploaded on its website, in compliance with the CBN Act of 2007’s stipulations.
“The Group and bank’s profit for the year was N103,854 million and N65,626 million respectively (2021: N75,125 million and N31,044 million respectively). In line with the provision of the Fiscal Responsibility Act 2011, 20 percent of the net income of the bank will be credited to retained earnings, while the balance will be paid to the federal government of Nigeria,” the report reads.
