CBN saves ₦193bn on personnel expenses after voluntary staff exit

The Central Bank of Nigeria’s personnel expenses fell by over ₦193 billion in 2025 following its voluntary Early Exit Programme under Governor Olayemi Cardoso.

According to Nairametrics, the Bank’s staff costs dropped 32.4% to ₦402.76 billion, while Group personnel expenses fell 31.6% to ₦416.26 billion.

However, currency issue expenses rose 83.8% and total operating expenses more than doubled to ₦2.60 trillion, though the Bank still posted a ₦86.81 billion profit, while the Group recorded ₦136.44 billion, up from ₦38.84 billion in 2024.