CNB releases its audited accounts for 2016 to 2022
The Central Bank of Nigeria published its audited accounts for the fiscal year ending December 2022, revealing a profit after tax of N103.8 billion, up from N75.1 billion reported the previous year. The balance sheet grew by N22 trillion from N35.5 trillion in 2018 to N57.9 trillion in 2022.
The audited results for the previous 6 years, 2016 – 2021, are available on the Bank’s website. According to the bank, its board of directors authorized the financial statements in compliance with the provisions of the CBN Act of 2007.
According to the study, the bank has produced a profit after tax every year for the last eight years in a row, while confronting currency depreciation and disbursing intervention funds and loans to the government, among other development financing initiatives.
According to the audited accounts, “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 provisions 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”
You can download and view the CBN audited accounts here
The accounts were audited by two leading accounting firms, Ernst Young and KPMG and signed by the immediate past CBN Governor, Godwin Emefiele.
