By Adefolarin A. Olamilekan | IDNN Business & Finance
The Central Bank of Nigeria (CBN) has posted a major financial rebound, recording ₦15.23 trillion in operating income and a ₦38.8 billion profit after tax for 2024. This marks a sharp turnaround from the ₦1.15 trillion loss reported in 2023.
The details were published in the CBN’s 2024 consolidated and separate financial statements, which provide insight into the financial health of the apex bank and its subsidiaries.
💰 Subsidiary Growth, Stronger Revenue Base
The report indicates that CBN subsidiaries also posted a 41.3% rise in total operating income. Among these are:
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Nigerian Security Printing and Minting (NSPM) Plc – CBN owns 89.52%
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NIRSAL Plc – 100% owned
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InfraCorp – 70% stake
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NESI Stabilization Strategy Ltd – 99.99% shareholding
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Tawada Ltd – Indirectly owned, 53.71% controlling interest
These entities contributed to the bank’s improved financial posture and increased asset liquidity.
“The group’s financial performance shows signs of stabilization and increased policy headroom,” one market analyst commented.
📊 Total Liabilities and Equity Surge to ₦117.6 Trillion
The Group’s total liabilities and equity rose to ₦117.60 trillion in 2024, up from ₦87.87 trillion in 2023. Key metrics include:
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Net unrealised FX revaluation gains: ₦11.28 trillion (up 225% YoY)
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Total deposits: ₦52.38 trillion (up from ₦38.18 trillion)
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Banknotes and coins in circulation: ₦5.44 trillion (up from ₦3.65 trillion)
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Instruments issued by CBN: ₦24.27 trillion (vs ₦17.40 trillion in 2023)
CBN’s quota at the International Monetary Fund (IMF) also rose significantly to ₦4.91 trillion, compared to ₦2.96 trillion in 2023. This reflects its elevated global positioning and borrowing capacity.
However, loans and receivables dropped to ₦10.96 trillion from ₦15.09 trillion — a reflection of monetary tightening.
⚖️ Analysts Say Report Is “True and Fair”
Economists reviewing the financials say the statements give a “true and fair view” of the bank’s financial position, with no qualification or adverse audit note.
They describe the rebound as a strategic outcome of policy recalibration under Governor Yemi Cardoso and a sign that CBN’s financial structure is moving toward medium-term sustainability.
“These numbers mark a shift from the fiscal and monetary entanglement seen in prior years,” said a financial policy expert.
As the CBN continues with its inflation-fighting, FX stabilization, and liquidity management mandates, analysts suggest the financial results could reshape future fiscal planning and investor confidence.
