CBN recovers from loss reports  N38.8 billion profit  in 2024

The Central Bank of Nigeria (CBN) reported a profit  of N38.8 billion after tax in the full year of 2024  from its N1.15 trillion loss recorded in the 2023 financial year.

It stated this in its recent full-year financial statement released today.

According to the report, the turn from loss to profit was driven largely by growth in interest income and other operating income

The apex bank made N11.28 trillion from net unrealised foreign exchange in 2024, a 225 per cent increase from what it did in 2022.

This contributed to a total operating income of N15.1 trillion, compared to N5.9 trillion in 2023.