The Central Bank of Nigeria (CBN) has said staff allowances gulped N155.63 billion in 2022.
The bank disclosed this in its audited financial statements for 2016-2022 released on Thursday.
The regulator said the financial statements of the last seven years — posted on its website — had been approved by its board in accordance with the provisions of the CBN Act of 2007.
According to the report, the staff allowances include furniture, housing, leave, transport, productivity allowances and “others paid to staff during the period”.
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The figure is N90 billion higher than CBN’s recorded profit of N65.63 billion within the period examined, TheCable Index analyses show.
It is also 37.2 percent more than the N113.35 billion spent on staff allowances in 2021.
Further checks of the financial statement show that the bank also spent the sum N40.66 billion on staff loans in 2022.
The amount is 133.3 percent higher than the N17.42 billion loan disbursed to staff in 2021.
CBN did not provide details on the number of staff members who were beneficiaries of the loan.
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