The Central Bank of Nigeria (CBN) has launched its 2024 audited {financial} statements, reporting a revenue after tax of N38.8 billion, a rebound from the N1.15 trillion loss recorded within the 2023 {financial} 12 months.
In keeping with the report, the sturdy efficiency was pushed largely by sturdy development in curiosity earnings and different working earnings, notably internet unrealized international change revaluation good points of N11.28 trillion, up 225% year-on-year.
This surge contributed to a complete working earnings of N15.1 trillion, in comparison with N5.9 trillion in 2023.
Whereas the CBN recorded a 29.16% year-on-year enhance in curiosity earnings to N5.1 trillion (from N3.95 trillion in 2023), curiosity bills surged much more dramatically, rising by 185% to N4.979 trillion.
In consequence, internet curiosity earnings plunged by 94% to N122.91 billion, down from N2.2 trillion within the earlier 12 months.
The {financial} statements had been ready in keeping with the Worldwide {Financial} Reporting Requirements (IFRS) and the rules of the {Financial} Reporting Council of Nigeria (FRC), together with the 2023 amendments to the CBN Act and the FRC Act.
The accounts had been audited by KPMG Skilled Companies and Ernst & Younger and signed by Akinyemi Ashade and Abiodun Akinnusi, respectively, each dated 30 April 2025.
In keeping with the assertion, the Group’s detrimental efficiency displays a difficult macroeconomic surroundings through the 12 months. In compliance with the Fiscal Duty Act 2011, the CBN famous that 20% of the revenue shall be credited to retained earnings, whereas the steadiness shall be transferred to the Federal Authorities of Nigeria.
The audit opinion indicated that the {financial} statements give a real and truthful view of the {financial} place of the Central Bank of Nigeria as at 31 December 2024, with no qualification or emphasis of matter famous.
The newest numbers mark a major shift within the CBN’s {financial} trajectory and should form financial and financial coverage discussions going ahead.
