The Central Bank of Nigeria, CBN, has revealed that it issued N40.67 billion to members of its staff as of December 2022.

In the apex bank’s audited financial statement for 2022, there was an increase of 133.07 per cent from N17.43bn in 2021 to N40.67bn in 2022.

The number of staff members who benefited from the loan was not specified by CBN.

The post on it website read: “From a bank-wide staff strength of 10,000 staff, excluding the over 2,000 casuals in the HQ and branches as at 1999, the bank operates with a substantially reduced staff strength of and (sic) 4,914 by December 2005, further down from 6,119 as at December 2004. It should be noted further that 79 percent of current staff are now professionals.”

The high debt was recorded despite the N155.63bn provided as staff allowances in 2022.

The staff allowances which includes furniture, housing, leave, transport, productivity allowances and ‘others paid to staff during the period’.