Talking about the CBN salary structure and how much CBN Staffs earn, this article explores in detail the salary structure of the Central Bank Of Nigeria (CBN) in Nigeria.
What do you know about Nigeria’s Apex bank? Are you aware of its responsibilities and Salary structures as an organization? Well, whether your answer is Yes/No, you’d definitely find this article helpful.
The Central bank of Nigeria(CBN) which is the country’s Apex bank was established by the CBN act of 1958 and commenced operations in 1959. This means that the bank has been in existence for a long time. Over the years, the bank has been administered by different individuals who go by the title “CBN Governor”. Presently, the man who Oversees the affairs of the CBN is Godwin Emefiele. The bank has its headquarters in Lagos State, Lagos Island precisely. The bank is usually open for business Mondays to Fridays except of course on national holidays
Responsibilities of the Central Bank of Nigeria (CBN)
The apex bank is saddled with so many responsibilities but the most important would be the administration of banks and other financial institutions across the country. Some of the other responsibilities of the CBN are as follows:
Promotion of a sound financial system in the country
Provision of economic and financial advice to the government
Banker to the federal government and other banks
Issuing of legal tender, meaning that only the CBN has the sole right to print banknotes
Management of internal and external debt.
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Past CBN Governors
Since the inception of the CBN, it has been governed by different persons to date. Below are the names of past CBN Governors and their tenure
Roy Pentelow Fenton 24 July 1958- 24 July 1963
Clement Iyong Isong 25 July 1963- 22 June 1967
Adamu Ciroma 24 September 1975- 28 June 1977
Ola Vincent 28 June 1977- 28 June 1982
Abdulkadir Ahmed 28 June 1982-30 September 1993
Paul Agbai Ogwuma 1 October 1993-29 May 1999
Joseph Oladele Sanusi 29 May 1999- 29 May 2004
Charles Chukwuma Soludo 29 May 2004- 29 May 2009
Sanusi Aminu Sanusi Lamido 3 June 2009- 20th February 2014
Sarah Alade 20 February 2014- 3 June 2014
Godwin Emefiele 3 June 2014- till date
Salary Structure of CBN: How Much CBN Pays
Ever worked in a company that doesn’t have a structure, well, you’d know that a company without a structure would most likely fold up after a number of years. An ideal work environment has a well-structured layout and this is no different from the CBN. The bank has different cadres of workers. They are :
Of course, one would not expect the different workers to get the same pay.
CBN Salary Structure For Graduate Trainees
As a graduate trainee, which are mostly fresh graduates who have just completed their National Youth Service Corp(NYSC) Scheme. Like most organizations in the country do, a special training program is usually conducted in order to train these people on the job and what it entails. The pay for this set of persons is N50,000
CBN Salary Structure For Entry-level staffs
The second cadre of people is the entry-level staff who must have completed the training program mentioned above. The people here receive a monthly payment of at least N122,000 at the end of the month.
CBN Salary Structure For Loan Officers
Next are the loan officers who are usually in charge of loan applications in CBN. The salary for a loan officer of the CBN is estimated to be about N573,000.
CBN Salary Structure For Data Analysts
The data analysts are also another structure in the CBN. At this point, the salary of the individual begins to increase. The salary of a data analyst in the Central Bank of Nigeria is 647,000
CBN Salary Structure For Bank Managers
The last set of people would be the Bank Managers. It is the dream of an average worker in any organization to be promoted to this level especially after one has put in a lot of time, dedication, effort into making the organization grow. Bank managers at the CBN are usually paid about N732,000 on a monthly basis.
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Seeing the different Salary structures of the CBN, would you consider working at the Central Bank Of Nigeria if given the opportunity? We look forward to seeing your response in the comment section.