The Central Bank of Nigeria (CBN) has posted a profit of N38.8 billion for the year ended December 31, 2024.
According to the bank’s 2024 financial statements, the CBN (the Group) returned to profit-making, reversing a previous loss of N1.15 trillion in 2023.
The Group refers to CBN and its subsidiaries, including the Nigerian Security Printing & Minting Plc (MINT), Nigerian Electricity Supply Industry Stabilisation Strategy Limited (NESI SS Ltd), among others.
Also, a profit before tax (PBT) of N44.68 billion was recorded by the CBN in 2024, relative to the N1.15 billion loss posted in 2023.
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The apex bank said its total assets grew by 33.83 percent to N117.6 trillion from N87.87 trillion in the previous year.
The group’s total assets, according to the document, was significantly bolstered by an increase in external reserves, which grew by 82.58 percent to N54.72 trillion — up from N29.97 trillion in 2023.
International Monetary Fund (IMF) holdings of special drawing rights (SDRs) also increased by 61.42 percent to N6.36 trillion in 2024 — from N3.94 trillion in the previous year; while debt instruments from amortised cost rose by 12.67 percent to N29.8 trillion from N26.45 trillion.
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On the other hand, total liabilities increased by 35.78 percent to N116.58 trillion in 2024, compared to the N85.86 trillion recorded in the previous year.
According to the financial statement, the group’s equity dropped from N2.01 trillion in 2023 to N1.01 trillion in 2024.
